Isidro Fainé Chairs the First Meeting of the Social and Philanthropic Council of the WSBI in Bangkok (Thailand)

The newly created Social and Philanthropic Council has issued the Bangkok Declaration, a manifesto that outlines the commitment of the adhering entities towards building a more inclusive and sustainable society in six areas of action: youth, poverty reduction, education support, women’s empowerment, the elderly, and planet sustainability.

Isidro Fainé has stated: “The creation of the Social and Philanthropic Council underscores our ongoing commitment to effecting positive change in the world around us. At the heart of our commitment is a substantial investment in programs aimed at fostering social change and addressing urgent social needs. Each year, the WSBI allocates $2.8 billion to social initiatives worldwide. These are not just numbers; they represent tangible actions that strengthen communities, empower individuals, and drive significant progress globally.”

Bangkok (Thailand), April 19, 2024. – The president of the “la Caixa” Foundation and CECA, Isidro Fainé, today chaired the first meeting of the Social and Philanthropic Council of the World Savings and Retail Banking Institute (WSBI), of which Fainé is also president.

In his address, Isidro Fainé emphasized that “the creation of the Social and Philanthropic Council underscores our ongoing commitment to achieving positive change in the world around us. At the center of our commitment is a substantial investment in programs designed to foster social change and address urgent social needs. Every year, the WSBI allocates $2.8 billion to social initiatives worldwide. These are not just numbers; they represent tangible actions that strengthen communities, empower individuals, and drive significant progress globally.”

Furthermore, the president added: “Our collective efforts are generating profound changes in the lives of countless individuals and families around the world. Through our investments and initiatives, we not only fulfill our corporate responsibilities but also embody the values of empathy and solidarity.”

The Social and Philanthropic Council was established last December in Marrakech, coinciding with the annual meetings of the International Monetary Fund. The honorary president of this Council is Helmut Schleweis, president of the Savings Banks Association of Germany. This Council aims to facilitate the exchange of experiences and best practices among members regarding their social work programs. At the same time, it advises and provides guidance on current global trends in philanthropy, identifying major social and economic areas that require significant developments to enhance global sustainability and stability.

Today’s Council meeting addressed topics such as the contribution to the SDGs of the entities adhering to the WSBI, and shared success stories from some member foundations, among other issues. This inaugural Council also served to propose new collaboration projects among partner entities, such as job creation and microenterprise development in developing countries.

Additionally, President Isidro Fainé presented three flagship social programs of the “la Caixa” Foundation: CaixaProInfancia, the Elderly program, and the Profuturo Foundation. The recent agreement signed between the “la Caixa” Foundation and Sparkassenstiftung (the foundation of the German savings banks association) on Silver Finance, supported by the Inter-American Development Bank, was also introduced.

The Social and Philanthropic Council includes international relevant actors in social work and philanthropy, such as the State Bank of India, the German Sparkassenstiftung, the Fundación Grupo Social of Colombia, Al Barid Bank of Morocco, the GSB Foundation of Savings Banks in Thailand, as well as the “la Caixa” Foundation and CECA (Association of Savings Banks, their Banks, and their Foundations), alongside other reference entities.

Bangkok Declaration

In the context of today’s meeting, the Council members have issued the Bangkok Declaration, a manifesto for change towards building more inclusive and sustainable societies that encapsulates the commitment of the adhering entities across six areas of action: youth, poverty reduction, education support, women’s empowerment, the elderly, and planet sustainability.

In this way, the entities commit to directing their efforts towards social inclusion, poverty reduction, education, gender equality, youth and elderly care, and the preservation of our natural environment.

• Support for youth: Promoting their inclusion in society and their transition to adulthood, entrepreneurship, and the labor market, fostering financial education projects and increasing social activities related to education and child poverty.
• Poverty reduction: Expanding poverty reduction efforts by intensifying and acknowledging the critical need to support the most vulnerable from an early age. The dedication of the entities extends to broader strategies designed to alleviate poverty across all age groups through sustainable development initiatives planned to meet immediate needs and promote long-term economic growth and self-sufficiency.
• Financial education: Expanding educational support, amplifying backing for educational programs, improving children’s access to quality education, and advocating for financial and digital literacy initiatives. The entities commit to supporting a wide range of scholarships, research programs, and grants, offering diverse learning and development opportunities.
• Women’s empowerment: Promoting their economic and social empowerment, fostering the growth of women-led businesses, and ensuring their full and effective participation in leadership at all decision-making levels.
• Improved elderly care: Promoting programs that provide comprehensive care for the elderly, covering physical and mental health services. Additionally, the objective is to reinforce support for palliative care, ensuring comfort and dignity in the final stages of life.
• Protecting the planet: Focusing more on the protection of biodiversity, the circular economy, eco-friendly mobility solutions, in addition to helping reduce climate risk for vulnerable populations and contributing to climate change mitigation.

This commitment demonstrates how retail banking and savings banks can play a crucial role in building a more sustainable and inclusive future, advocating for a banking paradigm shift aligned with the United Nations Sustainable Development Goals (SDGs).