On October 3, 2013, the Board of Directors of the Stavros Niarchos Foundation announced a call to action to help create new opportunities for Greece’s younger generations, which are severely impacted by the country’s current alarming unemployment rate. Fully aware that according to the latest official measurement of August 2013 the unemployment rate for young people in Greece exceeds 60%, the Foundation has committed a long-term grant of $136 million towards this effort.
The Foundation recognizes that changing the current landscape cannot be attained through the commitment of funds only, however significant they may be. The creation of new opportunities requires innovation and the collaboration and convergence of different sectors including public, private, and philanthropy.
To that end, the Foundation convened a conference in New York on April 3rd and April 4th 2014, bringing together economists, policy makers, foundations, NGOs, government officials and businessmen, for the sole purpose of exploring enterprising initiatives that could potentially lead to job creation and growth and provide job opportunities.
Youth unemployment is critically high in Greece, but it is a serious problem that confronts most developed economies. In announcing this new initiative, the Stavros Niarchos Foundation aims not only to help the unemployed youth in Greece, but also to develop a paradigm, a forum and a debate on effective ways to address the issue on a much broader level.
The Foundation is already in the process of approving projects that fit within the parameters of the Recharging the Youth initiative.