Sprott Foundation donates $1 million to fight hunger and poverty

Date: Tuesday, December 16, 2008
Author: Megan Harman, Investment Executive

Funds support CHF projects around the world.

Eric Sprott, the president of Toronto’s Sprott Asset Management Inc., had donated $1 million to the Canadian development organization CHF, his foundation announced on Monday.

Sprott and his wife Vizma, both founders of the Sprott Foundation, have now donated more than $8 million to Ottawa-based CHF. The organization works to improve food security and livelihoods for the rural poor in Africa, Asia and the Americas.

The funds support CHF projects around the world directly and through the Sprott Endowment for International Development, established in 2003.

“It’s uplifting that, despite recent economic turbulence and financial preoccupations here at home, the Sprott Foundation has chosen to recognize the struggle of the rural poor in developing countries in such a generous way,” commented Tony Breuer, executive director of CHF.

“The Sprott Foundation’s ongoing commitment to CHF has become a cornerstone of our program funding. The family’s donations have been instrumental in bringing long-term food security to very vulnerable parts of Ethiopia and Sudan and helping families in remote parts of Pakistan rebuild after a devastating earthquake. We are extremely grateful.”

The Sprotts created the foundation in 1998. It is dedicated to urgent human need, homelessness and global hunger.