HSBC Malta yesterday launched a heritage fund with an initial investment of Lm50,000.
The HSBC Cares for Malta's Heritage Fund is the third fund launched by the bank, which yesterday also donated Lm25,000 each to the five-year-old HSBC Cares for Children Fund and the HSBC Cares for the Environment Fund which was set up last year.
Speaking during the launch, Heritage Malta chairman Mario Tabone said that preserving local heritage was an urgent endeavour since every day a little segment of our cultural heritage was lost - "meaning that part of us dies forever".
Dr Tabone said Heritage Malta wanted to transform cultural heritage into the "glory of the nation".
"It's important to invest in cultural heritage because it raises the tenor of life and impacts heavily on general economic life, especially in Malta, where tourism will indisputably depend on the state-of-the-art presentation of our rich tapestry of cultural heritage," he stressed.
"We have one of the biggest concentration of cultural heritage per square kilometre anywhere, with the possible exception of Rome," he added.
Dr Tabone described the set-up of the new fund as a "wonderful gesture" and an expression of corporate social responsibility.
HSBC's chief executive officer, Shaun Wallis highlighted the importance of taking care of Malta's heritage.
"Malta has a rich cultural heritage which is unique in the world. We recognise the need to protect Malta's cultural treasures for the benefit of present and future generations," he said.
Mr Wallis said that through the setting up of the new fund, the bank will be increasing the role it wishes to play in this area of the local community.
Words of praise were also forthcoming by Prime Minister Lawrence Gonzi, to whom the cheque of Lm100,000 for the three funds was presented.
Dr Gonzi said more initiatives like the one taken by HSBC should be seen in Malta. It was the duty of businesses to contribute toward the general well-being of the public.
"Combating poverty risk, promoting sustainable development practices and being a donor toward the upgrading of the country's heritage are three commendable manners in which corporate social responsibility can be put to practice," he said, adding that companies which engage in social responsibility programmes should serve as motivators to other locally based enterprises.
The Prime Minister said the three funds which HSBC had set up all looked to the future, mainly the HSBC Cares for Children Fund, since children were the future. He said the Lm250,000 that had been poured into this fund in the past five years was used to make a difference in the life of children.
The Prime Minister's wife, Catherine Gonzi, who is the chairman of the HSBC Cares for Children Fund and environment fund committee member Pamela Hansen were present for the presentation.
On receiving the Lm25,000 cheque, Ms Hansen said this would enable the fund to further promote environmental issues, adding that the Lm30,000 endowment had already been committed.