Through its alliance with the BPI bank, ”la Caixa” Banking Foundation will devote 50 million euros a year to social action in Portugal

António Costa, Portuguese prime minister, and Isidro Fainé, president of ”la Caixa” Banking Foundation, today presented the cooperation agreement to implement social and cultural projects in Portugal through the Foundation's alliance with BPI.

The Banking Foundation plans to devote regular annual budgets of 50 million euros to its work Portugal, making this country the epicentre of its international engagement.

Initially, ”la Caixa” Banking Foundation will launch its strategic programmes for promoting integration into employment and providing care for elderly people and patients with terminal illnesses. Other projects will also include the establishment of economic development hubs and alliances with museums and cultural institutions in Portugal.

Isidro Fainé, president of ”la Caixa” Banking Foundation, noted that: "In recognition of Spain's strong and beautiful ties with Portugal, we have decided that the internationalisation of our social outreach programmes should begin in that country. While other organisations find opportunities in more distant climes, we always focus on the local in our social engagement, reaching out to the people and areas that are closest to us, and to which we are bound by ties of affection".

More information in the PDF press release