ECONOMIC CRISIS AFFECTS CSR BUDGETS, SAYS PHILANTHROPY ASIA

KUALA LUMPUR, June 29 (Bernama) -- The global economic crisis has hurt not
just business earnings but also reduced philanthropy and flattened corporate
social responsibility (CSR) budgets, according to Philanthropy Asia.

This, it said, will have a major impact on vulnerable groups in the
community who benefit from the US$260 billion that individual philanthropists
gave away for food, shelter, healthcare, education and social development in
2006.

According to Philanthropy Asia's managing director Josie Fernandez, the
impact of philanthropy in reducing poverty, hunger, disease, unemployment and
illiteracy is huge.

"Philanthropy sustains social harmony and protects the environment," she
said in a statement Monday.

The challenge of creating more givers as jobs and incomes are hit is among
the top issues at a global conference on "Enhancing the Role of Philanthropy in
Challenging Times" to be held in Kuala Lumpur next month.

The two-day conference from July 22 is convened by Philanthropy Asia, a
Kuala Lumpur-based organisation.

Key aims of the conference are to assess the impact of the global crisis on
different types of philanthropy, take note of the consequences of the crisis on
CSR, and draw upon the strength of philanthropy to address crisis-generated
consequences.

Those interested in more details on the conference can contact Philanthropy
Asia at Tel: 603-77271080.
-- BERNAMA