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Solvay Solidarity Fund launched in partnership with the King Baudouin Foundation

The Fund will be administered by the King Baudouin Foundation with an aim to support Solvay employees and their dependents worldwide through hardship due to the coronavirus pandemic.

Solvay announces that the King Baudouin Foundation will host and oversee the company’s recently-announced solidarity fund to support employees and their dependents through hardship as a result of the Covid-19 crisis.

Ilham Kadri, CEO of Solvay, said:

“We are very grateful for the support of the King Baudouin Foundation in our solidarity initiative at Solvay. The King Baudouin Foundation has an outstanding reputation and a wealth of global experience in philanthropy. Their support will ensure that we quickly establish the Solvay Solidarity Fund as an independent, global and effective charitable entity. Most importantly, the King Baudouin Foundation’s international network will enable  the implementation of the initiative worldwide, reaching Solvay employees, their dependents and communities most in need during these challenging times everywhere, anytime, as fast as we can.”

Luc Tayart de Borms, managing director of the King Baudouin Foundation, said:

“The King Baudouin Foundation is pleased to make its entire international structure available to the Solvay Solidarity Fund to enable it to be efficient and rapid in its implementation. We also guarantee the impartiality of its decisions. We hope that the action launched today will enable us to provide concrete help to the victims of the crisis.”

The Solvay Solidarity Fund will be managed on a daily basis by the King Baudouin Foundation under the guidance of a management committee with equal representation from the Foundation, Solvay and a third party being chosen — all three of whom will be responsible for deciding the fund’s donations based on criteria aligned with the statutes of the King Baudouin Foundation.

The Fund’s primary mission is to support the solidarity between Solvay’s executives, employees, shareholders and partners towards the Group’s employees heavily impacted by the Covid-19 pandemic around the world. Concretely, the Fund will provide:

individual assistance to staff members or their families throughout the world who have been severely affected and find themselves in great difficulty or major distress in terms of health, education of their children, unemployment, limitation or disappearance of their social and/or health cover;
support for the health and social organizations which take care of these persons;
support to research, health and social organizations involved in the Covid-19 crisis and extended to other health or equivalent crises if the funds raised by the Fund allow after meeting the immediate needs of Solvay employees and their dependants globally.

Solvay and the King Baudouin Foundation have a long-standing partnership, having collaborated on philanthropic and charitable efforts over the years. This will enable the Solvay Solidarity Fund to provide support, quickly, effectively and transparently, to those who need it most.

Companies: Solvay

Terms: News Worldwide

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This article has been edited by Basalt.Today
Source
This article has been written on JEC Composites Magazine
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