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On the restriction of the Foundation’s operations

March 20, 2018

ABLV Charitable Foundation is restricting its existing and planned charitable activities.

11 years ago, ABLV Bank shareholders Ernests Bernis and Oļegs Fiļs founded the ABLV Charitable Foundation. Its objective was to implement both philanthropists’ core values in real life and to nurture responsibility among their fellow entrepreneurs towards society and the environment. Over the course of these years, the Foundation supported 350 charitable and cultural projects, together with other donors donating almost EUR 5 million to them.

Both we and the philanthropists are genuinely saddened that events have taken such a turn, but in light of the events of recent weeks in connection with ABLV Bank, which in legal language are referred to as conditions of Force Majeure, with great regret we are compelled to announce that the Foundation is, in practice, suspending both its existing and planned charitable activities.

As far as possible, for the time being, we will continue the programme “Let’s Help the Victims of 21.11”, which provides support to families that fell victim to the Zolitude tragedy, primarily offering help to the children of these families. Likewise, to a reduced extent, we will continue the programme “Let’s Help them to Hear!”, whose goal is to foster the development of children with hearing problems and their integration into society by presenting them with high quality digital hearing aids.

We would like to express our sincerest gratitude for your cooperation, support and our joint accomplishments to date. We wish you every success with your future projects and activities!

You can read more about all the Foundation’s works on our website: www.ablv.org.

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