Esharelife has donated £3,500 to the Hellenic Initiative for promoting growth and crisis relief.
The Covid-19 pandemic, soaring inflation and disruption of global supply lines caused by Russia’s invasion of Ukraine have undoubtedly affected people across the world. However, the effects of these problems are compounded in countries already suffering because of inflation and high national debt.
This is demonstrated in Greece which since the global financial crisis of 2008 has been struggling with large debts. This event caused an economic collapse in 2009. This caused the stagnation of growth within Greece and prevented the adequate funding of education temporarily. This crisis is still relevant to the Greek economy today with Greece boasting a deficit of 168% of GDP more than triple the percentage of debt to GDP of Germany.
The Hellenic Initiative is a charity that works to provide economic development grants to encourage entrepreneurship within Greece. Moreover, the Hellenic Initiative also provides crisis relief acting as a safety net for the poorest in society, ensuring that no one is left with nowhere to turn. A critical service as in 2013 more than 600,000 children were living below the poverty line in Greece. Additionally, nearly half of all Greeks lacked health insurance. Finally, the Hellenic Initiative provides $8.5 million in debt relief to families to help them spend their money on essentials like food and school supplies.
In order to attempt to facilitate Greek entrepreneurship and to ensure that a safety net is provided to Greek families following Covid-19 Esharelife Foundation has committed to donating funds to the Hellenic Initiative. To help society to recover and ensure that no one is left without anywhere to turn, and to ensure that the best and brightest are encouraged and through ingenuity jobs and social security can be created.