UBI Banca announces the issue of a new “UBI Community for Cesvi” Social Bond, for a total amount of 20 million euros, whose proceeds will be donated in part as a donation to the organization. The contribution will be used by Cesvi to support the #LiberiTutti campaign in the cities of Bergamo, Rome, Rieti and Naples. With its projects against the mistreatment and neglect of children in Italy, Cesvi undertakes actions to prevent and combat this serious phenomenon, which is still largely submerged today, through multiple activities that involve children, parents, professionals in the sector and of the entire community.
Project activities and objectives
In the cities involved in the project, the operators of the partner associations with which Cesvi collaborates, specially trained on the protection and promotion of children's rights, activate listening spaces aimed at children and adolescents and support initiatives for parents in vulnerable conditions, offering psychological support and psychopedagogical counseling. Local communities are sensitized and involved through workshops in schools, local events and the promotion of bonds of solidarity between families.
Through this project, minors receive support in their ability to express any discomfort and parents, by participating in positive parenting courses, acquire knowledge and educational tools useful for guaranteeing adequate protection and care for their children. The activity also concerns political decision makers, who are addressed by the regional index on child abuse in Italy which Cesvi has elaborated also thanks to the support of UBI Banca.
Up to €100.000 in grants through donations
The total contribution donated by UBI Banca to Cesvi, as a donation, to support #LiberiTutti, can reach up to 100.000 euro in case of subscription of the entire nominal amount of the bonds involved in the offer. The bonds, issued by UBI Banca, have a minimum subscription amount of 1.000 euro, a 3-year term, a six-monthly coupon, a gross annual rate of 1% (0,74% net per year). They can be subscribed from 3 July 2018 to 27 July 2018, subject to early closure of the offer.
Initiatives in favor of Cesvi
Support for #LiberiTutti through the Social Bond joins the other activities of the long-term partnership between UBI Banca and Cesvi. UBI Banca has made available, in addition to the issue of the Social Bond, two other instruments with which it is possible to contribute to Cesvi's initiative in favor of abused children. The first instrument is a bank transfer, which is commission-free for UBI Banca customers if carried out via the QUI UBI or QUI UBI Affari internet banking services, using the "Solidarity transfer" function; even non-customers can contribute with a payment over the counter to the Cesvi current account whose IBAN is IT11H0311111101000000005204, always commission-free. The second tool is the UBI Banca app which, through the Jiffy circuit, allows you to make a donation using the "Send Money" function.
SROI as a tool for measuring social value
With reference to the Cesvi project to combat child abuse in Italy, the value of the social benefit for the recipients and the community linked to the Social Bond is calculated, as has already happened on the occasion of contributions linked to previous placements. The method chosen for this quantification is the social return on investment - SROI, the most widespread and appreciated by the international community. SROI is the means to quantify, in economic terms, the social or environmental value generated by a project, an initiative, a social organization.
Cesvi has calculated that the social benefits of minors, families, schools and third sector operators locally active in support of children and adolescents will be 1,88 euro (ex ante) for each euro invested. At the end of the project, the consolidated result will be reported and communicated (ex post).
UBI Community Social Bonds
Social Bonds are debenture loans aimed at supporting initiatives of high social value, which offer subscribers a market yield and provide that, with the funding deriving from the debenture loan placed, the Bank disburses sums of money by way of donation or loan under competitive conditions to support projects or investments with a high social impact. They involve and reward significant non-profit entities in the reference territories, characterized by a good ability to mobilize stakeholders and with projects with a high social impact.
From April 2012 to June 2018, the UBI Banca Group issued 88 UBI Community Social Bonds, for a total value of over €973m, which made it possible to donate contributions by way of donations of over €4,6m to to support initiatives of social interest and have been subscribed by over 34.000 customers of the UBI Group. In addition, plafonds have been activated for loans of over 20 million euro intended for consortia, businesses and social cooperatives.
