The Stravros Niarchos Foundation (SNF) announced on Tuesday, 7 April, that it was making available $100 million to combat the immediate and long term impact of the Covid-19 pandemic.

The foundation said in a statement that the money was being made available through its Global Relief Initiative for the Covid-19 Pandemic and was part of the SNF’s “philanthropic philosophy of public-private collaboration and working closely with grantee partners around the world.”

The SNF Co-President Andreas Dracopoulos was quoted as saying that. “SNF considers it our duty to do whatever we can to help alleviate the impacts of COVID-19 and support those on the front lines of the fight. We will keep listening and responding to the evolving needs of our grantee partners as they continue their critical work under these difficult conditions, and we will support them to the best of our ability.”

The statement said the initiative would focus “both immediately and long term on some of the most pressing issues related to the pandemic.”

Under the new initiative the SNF announced its first act would be to grant, with immediate effect, $3 million to The Rockefeller University to support its research into Covid-19.

“Rockefeller’s Nobel Prize-winning researchers are well positioned to speed development and deployment of vaccines and treatments that could have global impact,” said the SNF.

The initiative, the SNF statement said, would also play a part in addressing the wide-reaching socioeconomic implications of the pandemic.

“In times when isolation is part of the solution, we must continue to stand by the most vulnerable to ensure that their essential needs are met.”

The SNF said it would work with private, public organisations and its grant partners to ensure the needy will have food security. It said that it would work with organisations around the world to “address the mounting psychological needs arising from the pandemic.”

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The foundation said it would also support organisations that were working to ease the effects of the socioeconomic crisis that is deepening thanks to the pandemic.

“This means both strengthening the social safety net and sustaining systems that encourage us to help one another recover,” the foundation said.

“SNF is committed to working together with our current and future partners across the nonprofit, philanthropic, and governmental spheres to address current and emerging needs in the most effective manner possible. This global crisis will require unprecedented collaboration, and we are committed to staying the course.”

As the homeland of the foundation, Greece would receive a significant portion of the grants under the new initiative. It said the country which had recently recovered from its decade-long socioeconomic crisis was particularly vulnerable to the economic and social impacts of the pandemic.

The foundation added that it would remain a strong partner for Greek private and public organisations to avoid the country relapsing to its former economic state.

Its Covid-19 initiative would be in addition to the foundation’s $450 million health initiative in Greece to construct three new hospitals as well as provide for diagnostic and emergency equipment and training for health care workers.

“Overcoming difficult and dangerous conditions daily, these brave individuals deserve the best protection and support available and must not be abandoned,” the foundation said.