Banesco’s social investment reached a total of Bs. 20.33 billion
Of the total, 4.57 billion Bs correspond to non-contractual benefits offered to employees of the Organization. For different projects together with the Social Partners for the benefit of the community spent 15.75 billion Bs
Caracas.- Banesco Banco Universal, institution of 100% Venezuelan capital, reported a social investment of 20.33 billion bolivars in 2006. The figure includes programs developed internally that benefited workers in the organization and externally materialized projects with the Social Partners.
From 1998 to date, Banesco has executed a social investment (domestic and foreign) which amounts to 64.57 billion Bs Bs. Of this amount, in 2006 alone contributed 20.33 billion Bs, of which 4.57 billion Bs was spent on workers from the financial institution and the difference, Bs 15.75 billion, on the community.
Internationally, Banesco has decided to promote the education and health of increasingly more Venezuelans through its Corporate Social Responsibility program. In line with this strategy, 2006 highlighted the boost given to projects submitted by Fe y Alegría, the Venezuelan Association of Catholic Education, the State Foundation for the National System of Youth and Children Orchestras of Venezuela (Fesnojiv) and universities.
In this regard, it is highlighted that 15.75 billion for external social investment, 52.06% (Bs 8.2 billion) has been disbursed in projects related to education.
|Institution / Agency||Amount Bs.|
|Fe y Alegría||2,26 billion|
|Museo de los Niños||75 million|
|Banesco’s lifetime scholarships||49,32 million|
|Editorial projects||41,04 million|
The main initiatives to which it contributed during 2006 were:
Fe y Alegría
In August 2002, and Fe y Alegría Banesco signed an agreement which established a trust for 10 billion bolivars, which were delivered over five years to Fe y Alegría in order to expand and equip the Instituto Universitario Jesús Obrero of Catia and build the Instituto Universitario San Francisco of Maracaibo and the Instituto Universitario Jesus Obrero of Barquisimeto. Today the three higher education institutions are fully operational thus expanded the possibilities of study for more than 4,500 young Venezuelans.
Specifically in 2006, Bs 2.26 billion were dedicated to them. In July 2007, all of the resources provided under the existing agreement were delivered and, additionally, Banesco agreed to allocate other Bs 12.5 billion over a period of five years from August this year.
With the State Foundation for the National System of Youth and Children’s Orchestras of Venezuela also fulfilled the commitment to total delivery in 2006 of Bs 3 billion for the construction and equipping of the Center for Social Action through Music. Last year they contributed 2.04 billion Bs.
During 2006, we sponsored various projects submitted by 36 schools belonging to the Venezuelan Association of Catholic Education, related primarily to the rehabilitation of its infrastructure, which involved an investment of Bs 2.87 billion. Also, the total amount allocated to the AVEC 571.9 million benefited the Canaima school, located in La Vega, a member of this association, whose board works in the construction of facilities to provide secondary education to teenagers of the parish.
Museo de los Niños
With the Museo de los Niños there is a long-standing relationship. In 2006, Bs 75 million were allocated to cover the operational needs of this cultural and educational center as well as the exhibition “The Thrill of Living Without Drugs”, an experience that children from the Banesco workers and a group of children from Fe y Alegría schools also enjoyed.
During 2006 we kept the support for the Universidad Central de Venezuela, Católica Andrés Bello, Simón Bolívar, Zulia, the Andes and Oriente. It include the following initiatives:
- Completion of work on the Paseo de los Ilustres Sucrenses (UDO)
- Construction of the auditorium and publication of the book Historical Vision of LUZ (LUZ)
- Construction of the Library (UCAB-Guayana)
The budget for these institutions of higher education was 917.26 million Bs.
For its workers
Internally, we also performed various activities and programs to benefit workers in the organization that already reach 10,000 people around the country. In 2006 we volunteered and met a number of non-contractual benefits for workers totaled 4.57 billion Bs.
In addition, 20.18 million Bs were disbursed to strengthen the activities of the Banesco Corporate Volunteer, specifically in the area of training and education.