Munich (GER), 29 December 2018 - The ISSF Executive Committee supported the initiative of ISSF President Vladimir Lisin to establish a Development Fund and to donate USD 10.000.000 (ten million US Dollars) of his personal means.
The Executive Committee members were unanimous in their decisions. With no votes against and no abstentions they gave green light to the creation of the Development Fund and to the implementation of a system that can guarantee full transparency in the decision-making process and in financial operations of the Fund.
Mr. Joerg Brokamp - Chairman of the ISSF Technical Committee - said:
"The development fund is a big personal contribution of the President. It will hopefully be good for the future and the wellbeing of the ISSF."
"It is a donation that belongs to the ISSF. As the entire financial responsibility is held by the Executive Committee in accordance with the ISSF Constitution and the decisions of the General Assembly, the members of the Executive committee will also be responsible for the use of the financial resources of this new ISSF Development Fund."
The exact procedures are to be determined by the same Executive Committee, during their meeting to be held on March 22nd, 2019.
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