Swedbank is donating EUR 10 million in financial support to the philanthropic Vilnius University Endowment Fund. The donation is used to establish the ‘Swedbank Sub-Fund for the Promotion of Sustainable, Long-Term Country Advancement’ within the VU Foundation.

The main activity areas of the Swedbank sub-fund are the development of science, technology, and innovation by promoting collaboration between academia and business, talent development, and the strengthening of financial literacy in society.

CEO of the VU Foundation Justinas Noreika, CEO of Swedbank Lithuania Inga Skisaker, and VU Rector Prof. Rimvydas Petrauskas (photo by Ugnius Bagdonavičius)

‘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.

CEO of Swedbank Lithuania Inga Skisaker (photo by Ugnius Bagdonavičius)

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.

CEO of the VU Foundation Justinas Noreika, CEO of Swedbank Lithuania Inga Skisaker, and VU Rector Prof. Rimvydas Petrauskas (photo by Ugnius Bagdonavičius)

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.

CEO of the VU Foundation Justinas Noreika (photo by Ugnius Bagdonavičius)

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.

About Swedbank

Swedbank is the largest bank in Lithuania, providing services to more than 1.6 million private customers and over 85,000 business clients in the country.

With a history spanning 200 years, Swedbank is one of the major banks in the Baltic countries and Sweden, serving more than 7 million private customers and over 0.5 million business clients and organizations. By offering financial advice, services, and products, the bank enables many individuals and companies to build a better future.

Swedbank’s vision is a financially resilient and sustainable society. The bank focuses primarily on the needs of its customers and follows key values—striving to be open, simple, and caring, making the financial world easier for its clients.