Media Release Financial Markets Foundation for Children Increases Funding for Medical Research

The Financial Markets Foundation for Children has increased its funding for medical research in 2009. The Board of the Foundation decided at its most recent meeting to allocate $1.3 million for 15 research projects, an increase of more than 70 per cent from the previous year.

Projects to be supported this year include studies on hearing impairment in children, the health of indigenous children, diabetes, obesity, dental hygiene and asthma.

The successful projects were awarded funding on the advice of a Grants Advisory Panel chaired by Professor Craig Mellis, of the University of Sydney. The advisory panel reviewed a short list of proposals drawn from a total of 250 applications from medical researchers around Australia.

The Financial Markets Foundation for Children is a charitable foundation established in 1988 by Australia's major financial institutions, with the objective of promoting the health and welfare of children in Australia, particularly by supporting research. Over the past twenty years, the Foundation has donated in excess of $11 million to over 170 individual projects. The results of research supported by the Foundation have been regularly published in the top medical journals around the world.

The Foundation is overseen by a Board which, by tradition, is chaired by the serving Governor of the Reserve Bank of Australia, and includes the CEOs of Australia's major banks and other prominent people from the financial sector. The Foundation receives funding from most of Australia's major financial institutions as well as several fund-raising activities, including the Melbourne Gala Ball and the ASX Reuters Charity Golf Day and Dinner. Professional services are provided pro bono to the Foundation by Hunt and Hunt lawyers, PricewaterhouseCoopers and the Australian Financial Markets Association.

Further information is available on the Financial Markets Foundation for Children website.


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