New Philanthropic Fund focuses on community development

SITAWI Finance for Good has partnered with the InterCement Institute to manage a  philanthropic fund to support the organization’s community development activities. The R$ 420,000 fund will go towards establishing InterCement’s “Community Ideas” contest, which will support entrepreneurial projects in the cities in which the organization operates. The purpose of the initiative is to encourage members of Community Development Committees to engage in entrepreneurship through the development and implementation of projects that contribute to community development.

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The Community Ideas contest selected six projects from five Brazilian states to receive up to R$ 20,000 in order to develop the proposed activities. The selection process took into account the following criteria: (a) Participation and empowerment of the community that will benefit; (b) Participation of volunteers from the InterCement unit in the municipality; (c) Ability to raise at least 50% of the amount requested through financial or other economic partnerships (d) Prevention of possible environmental and safety risks; (e) Respect for cultural and religious diversity; (f) Focus on community development; (g) Project sustainability after its completion; (h) Feasibility of the project development schedule; (i) Consistency between proposed budget and required resources and (j) Quality of project writing.

The InterCement Institute is the face of Corporate Social Responsibility for InterCement – one of the largest cement manufacturers in the country. The activities of the InterCement Institute are carried out preferably in the municipalities in which the organization has industrial or commercial activities. The initiatives aim to strengthen community ties, increase the value of local assets, unite partners and form collaborative networks, in order to create a supportive and participatory environment for sustainable development and community autonomy.