Troy L. Milliron 
The Salesians and the Intesa Sanpaolo banking institution sign an agreement to help families with school fees
ITALY
(MissionNewswire) The Salesian Circumscription of Central Italy and the banking institution Intesa Sanpaolo have signed an agreement in favor of families with children of school age who attend Salesian schools and vocational training centers in Abruzzo, Lazio, Liguria, Marche, Sardinia, Tuscany and Umbria.
As part of an initiative by Intesa Sanpaolo’s environmental social governance sector, impact loans will provide families with a line of credit of 2,000 or 3,000 euros per year for a period of one to five years.
The goal is to help families ensure their financial viability while their children are in school. The loans will provide families with money to purchase products and services related to education (school fees, books, etc.), coverage of special educational needs (psychomotricity, speech therapy) and other activities promoting personal development (sports, summer camps, training experiences abroad).
Marco Morganti, head of the Intesa Sanpaolo Impact department, said: “It is a great pride, but also an opportunity to invest in the first part of the school career when the potential for growth and learning is at its maximum.
The project is part of impact finance initiatives that provide credit to people who would be unlikely to receive traditional financial loans. The bank offers these impact loans for university students and working mothers, as well as for the purchase of computing devices for distance learning. As confirmed by recent research supported by Intesa Sanpaolo, most Italian families are convinced that spending on their children’s education is the best investment for the future.
“Many families choose Don Bosco School as a place of formation and growth for their children. Many others would like to be part of this educational proposal but are discouraged by the payment of fees,” said Fr Marco Aspettati, Provincial Delegate for Salesian Schools. “That is why, as Salesian parochial schools, we are very happy to present this opportunity to the families of our children.”
Prof. Aspettati added: “Concrete support allows families to have the freedom of educational choice, which unfortunately in Italy comes at a cost, unlike many other European countries. I am convinced that many families, including those with low and middle incomes, can see in this financial product a valid aid to invest in the education of their children, guaranteeing them a quality education.
Poverty rose sharply in 2020 to its highest level in 15 years as the COVID-19 crisis brought economic challenges to much of Italy. Nearly 5.6 million people, or 9.4% of the population, live in absolute poverty, unable to buy goods or services to reach a minimum acceptable standard of living, according to the World Bank. This number includes 1.3 million minors.
Salesian programs across Italy help young people who cannot go to school and others who drop out to work in the few jobs available to them. A growing number of children are working as farm laborers and others have turned to the sex trade to help support their families. People living in poverty often live without adequate housing, hot water, regular meals and health care.
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RESPONSE – Italy – ICC Salesians and Intesa San Paolo Bank support families for formation of young people
Salesian Missions – Italy
World Bank – Italy
