The federal government’s stimulus package could have bought almost one million schools, at least if it had been spent in Bangladesh.
Ethical Investments is one of the most consistent supporters of On Line Opinion through its onsite advertising. According to the media release that I have just received they have donated $140,868 to the community.
The largest grant of $45,000 made to CO-ID will build a combined primary and secondary school in one of the poorest areas of Bangladesh.
Funding was also given to 24 other social and conservation community organisations working throughout Australia and overseas.
After a difficult period in which many companies are cutting back on philanthropy, Australian Ethical continues to set the benchmark for corporate giving. Each year Australian Ethical donates ten per cent of its profits to conservation and charity organisations. Over the last decade Australian Ethical has donated nearly $1 million back into the community.
Even given the low labour costs and the lower cost of materials, as well as the different construction standards, that is a stunningly low figure to build a whole school.
A friend of mine says that the average building cost of a new housing unit in Australia is $300,000, so that amount of money would be unlikely to buy much more than the wet areas in an Australian dwelling.
You can read the whole release here. If you want to check out their investment performance you can find it here.