14 October 2005

Search engine Google is set to put some of its stocks and profits into funding charitable ventures.

It has set up a special charity division, Google.org, and will be devoting a percentage of its stocks and profits to projects in the developing world.

By visiting the new Google.org webpage, you can access details of the development funds it will be initially working with.

The Acumen Fund, which works on healthcare and anti poverty schemes, will receive some funds.

Money will also be invested in a water research programme in Kenya, investigating ways to improve the water quality.

Google will provide further support by helping finance business entrepreneurs in Ghana through a partnership with the organisation, TechnoServe.

The webpage also has a pledge from the founders of Google, Larry Page and Sergey Brin.

They state, "we hope that someday this institution will eclipse Google itself in overall world impact by ambitiously applying innovation and significant resources to the largest of the world's problems."

They are planning to give one per cent of Google's stock and profits to their new umbrella group of charities and start the programme of charitable work off with an initial £51.5 million donation.

© Adfero Ltd

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