Starr Foundation Pledges $1 Million for China Earthquake Relief

May 30, 2008

The Starr Foundation of New York and Starr International Foundation of Switzerland have announced a joint grant to the China Charity Federation totaling $1 million for earthquake relief in China. The donation was facilitated by Give2Asia.

“Our heartfelt concern goes out to the government and people of China as they deal with the tragic deaths and destruction from the earthquake in the Sichuan Province,” stated Starr’s Chairman and CEO Maurice R. “Hank” Greenberg, who heads both foundations, in announcing the donations. “We strongly encourage others to consider funding the relief efforts in China.”

Greenberg and Starr have close links to China. The Starr companies and the foundations were named after Cornelius Vander Starr, the founder of AIG in China in 1919. Greenberg was his successor as head of AIG. The magnitude 7.9 earthquake has devastated large parts of Sichuan Province. The latest figures put the death toll at over 80,000.

“This ongoing tragic disaster in China has left hundreds of thousands of people in need of basics like shelter, food and water,” observed Ray Klinke, interim CEO of Give2Asia. “We are so pleased to be working with a group like the Starr Foundation, which is stepping in with a major contribution to help the survivors in Sichuan Province.”

The Bulletin noted that the Starr International Foundation “makes grants in the areas of health and medicine, human needs, education, public policy, environment and culture in support of local and international organizations.

Cornelius Vander Starr founded it in 1955 and left his estate to the Foundation on his death in 1968. “Its assets grew under Mr. Greenberg’s leadership from $2 million at Mr. Starr’s death to approximately $3 billion today,” the bulletin continued. “Since its founding, The Starr Foundation has made more than $2.3 billion in grants, including more than $200 million to China-related programs.”

Source: The Starr Foundation

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