Submitted by Vodafone
October 8, 2007 - Vodafone Group Plc today announces that it is establishing the Vodafone India Foundation, with an initial commitment of $10 million. This step signifies a further landmark in the development of Vodafone’s presence in India and confirms the Group's commitment to invest socially in the communities where it operates. This activity will be supported by The Vodafone Group Foundation which has developed a unique network of 23 Foundations around the world during the last five years.
The principal aim of the Vodafone India Foundation will be to make a positive contribution to Indian society by providing direct grants to locally registered charities and global NGOs with suitable social investment aims and objectives. The Vodafone India Foundation will initially focus on projects associated with providing education for young people across India, enabling the development of higher skill sets.
The Foundation will commence work as soon as the formal registration process has been completed in addition to compliance with tax and foreign contribution legislation and the appointment of Trustees.
Arun Sarin, Vodafone Chief Executive, will be the first Chairman of the Foundation. He said: "As someone who was born and raised in India, I recognise the urgent need for our youth to be empowered from a knowledge perspective. We believe the Foundation will become an effective catalyst in this regard."
Vodafone has previously contributed to social investment in India by providing emergency response to the recent floods. The Vodafone Group Foundation has allocated a total of Â£150,000 to assist victims across the country through International relief agencies including Oxfam.
In addition, in partnership with the UN Foundation, Vodafone plans to contribute a further Â£1 million to support expansion of the Measles Initiative* into the region. Since 1999 this global initiative has immunized over 372 million children, aged 9 months to 15 years, against measles and has resulted in a reduction of measles related deaths by 60% in the same time period.Â Vodafone is the largest corporate contributor to this programme.Â
For more information on Vodafone's unique network of Foundations go to www.vodafonefoundation.org.
* The Measles Initiative is a partnership of the UN World Health Organisation, the U.S. Centres for Disease Control and Prevention, the American Cross, the UN Foundation, and UNICEF.
About The Vodafone Group Foundation
The Vodafone Group Foundation is a UK registered Charity established by Vodafone Group Plc in 2002. It has invested over Â£100 million in projects since its creation and currently receives Â£24 million per annum from the Vodafone Group Plc which it distributes between projects globally and its unique global footprint of 23Â Vodafone Foundations. Vodafone is committed to making a difference in the communities in which it operates. For more information go to www.vodafonefoundation.org.
Vodafone is the world's leading international mobile telecommunications company, with equity interests in 27 countries and Partner Markets in more than 40 countries. As of 31 December 2008, Vodafone had approximately 289 million proportionate customers worldwide. The Company's ordinary shares are listed on the London Stock Exchange and the Company's American Depositary Shares ('ADSs') are listed on the New York Stock Exchange. For further information, please visit www.vodafone.com.
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