Historical Act of Patronage: Swedbank Donates EUR 10 Million to the Vilnius University Foundation to Foster Lithuania’s Progress

Swedbank is donating EUR 10 million in financial support to the philanthropic Vilnius University (VU) endowment fund. The donation will be used to establish the ‘Swedbank Sub-Fund for the Promotion of Sustainable, Long-Term Country Advancement’ within the VU Foundation. This contribution doubles the capital managed by the VU Foundation to EUR 20 million.

‘Striving to be an advanced society is a goal that unites us all. Today, together with Vilnius University, we are taking another step towards building Lithuania as a strong and future-oriented State. We believe that our joint efforts will provide additional momentum contributing to the progress of the entire country,’ said Inga Skisaker, CEO of Swedbank Lithuania.

The Swedbank Endowment Sub-Fund established within the VU Foundation will support initiatives that have a sustainable and lasting impact on Lithuania’s social, economic, and cultural development. The investment returns generated by the endowment capital will be used to finance a broad range of activities and initiatives.

‘This unprecedented act of patronage by Swedbank demonstrates a belief in the importance of science and studies for society, as well as confidence in Vilnius University. This cooperation reflects a shared responsibility to the State and society, as the support will be directed toward addressing the issues crucial to today’s societal development, as well as responding to future challenges. It is a responsible investment in the future and potential of higher education, and at the same time, the impetus for the implementation of important scientific ideas,’ said VU Rector Prof. Rimvydas Petrauskas.

Of the support provided, the majority, EUR 9 million, will be directed to the sub-fund’s endowment capital. Up to EUR 1 million may be used earlier within the scope of the activities of the sub-fund.

‘This substantial support from Swedbank marks a significant breakthrough in the history of philanthropy in Lithuania. It represents the joint commitment of two trusted organisations to an ambitious goal – a stronger Lithuania. This initiative creates new opportunities for students, researchers, and society as a whole, encouraging innovation and sustainable national growth. At the same time, such examples motivate Lithuania’s philanthropic community to mobilise around education and science in the country,’ said CEO of the VU Foundation Justinas Noreika.

This philanthropic partnership of exceptional importance will contribute to the growth of the VU Foundation’s social capital. Swedbank, one of the largest and most respected financial institutions in the country, will strengthen the VU Foundation’s governance structures: representatives of Swedbank will join the Sharers and the Investment Board.