OREANDA-NEWS. February 16, 2011. The Board of AB Bank SNORAS decided to establish the public organisation SNORAS Relief Fund which will take over all support activities and social projects of the bank’s group. PO SNORAS Relief Fund will mostly focus on sponsoring culture, art, science and sports, reported the press-centre of Bank SNORAS.

“Business contributes to enhancing economic and social welfare while carrying out its direct activity – providing services, creating workplaces and paying taxes. However, at the same time, it is important to be a member of the social community; therefore, by establishing SNORAS Relief Fund, we will blend in the social activity even more actively. We will devote a lot of attention not only to sponsoring initiatives of large cities, but also regional initiatives. We are confident that business should help to realize innovative educational, progressive cultural and art ideas, while in sports – to achieve victories,” states Raimondas Baranauskas, the President of AB Bank SNORAS.

PO SNORAS Relief Fund will be executing all current sponsorship activities and social projects which are being carried out by Bank SNORAS and companies of the group.

The establisher of the fund – Bank SNORAS – is planning to continue cooperation with the Lithuanian National Olympic Committee which it has sponsored since 2009. Bank SNORAS has undertaken to financially support preparation of the Lithuanian representatives and their participation in the XXX Jubilee Olympic Games in London in 2012.

It is planned that the status of the patron of “Partnership Leader” project of the Lithuanian Business Confederation ICC Lithuania would also be transferred to the relief fund as well as the special nomination “Business Ambassador of Lithuania”, established by Bank SNORAS and designated to annually award a diplomat who is the best at representing Lithuanian business abroad.

The fund will continue the bank’s sponsorship projects related to motorsport and basketball. SNORAS Relief Fund will take over the status of the general sponsor of SNORAS Spyker Squadron – the professional team of car racers – and the basketball team “Lietuvos rytas” which brings fame to Lithuanian basketball in the prestigious European championship Euroleague.

In the nearest future it is already planned to activate and expand the fund’s activity even more in the regions. The fund, like Bank SNORAS has been doing until now, will be allocating support to the drama theatres in Klaipeda, Siauliai and Marijampole; furthermore, it will be carrying out activity in the spheres of encouraging scientific research and promising students of Vilnius University, Vilnius Pedagogical University, Kaunas Technological University and Klaipeda University.

According to R. Baranauskas, the fund will not confine itself only to the currently developed sponsorship projects. In addition, it is planned that the employees of the bank’s group would be able to suggest which spheres of activity the established relief fund should support. Hopefully, other companies or private persons would like to contribute with their money or other means to the activity of the fund.