Dioceses invest in the social realm

The agreement on property between the State and the Churches in the Czech Republic came into force in January 2013. It was approved after years of discussions at various levels of society and, finally, property confiscated to the Catholic Church in the past has started to be returned. The most significant step towards financial autonomy and development has been completed with the creation of a Catholic Fund, set up in collaboration with the Czechoslovak Commercial Bank for asset Management, which won the tender and manages investments following the decisions and preferences of the Church. Ethical and moral aspects. Catholic dioceses entered the Catholic Fund voluntarily and until now they have all decided to put to value the funds deriving from the agreement on property in this way. The amount of money has steadily increased, opening various possibilities for productive investments. “As for the fund portfolio, we fully respect the moral and ethical dimensions of investments, rigorously excluding all companies that produce alcohol or weapons”, said representatives of the diocese. “I have appreciated the cooperation with the Czechoslovak Commercial Bank for asset management so far, as well as the management of the Catholic Fund,” said Msgr. Tomas Holub, Secretary General of the Bishops’ Conference. “I deeply appreciate the mutual trust, especially given the fact that it is the first experience of the Church with this kind of investment.” And it is just the beginning. Solidarity at the centre. Dioceses are fully aware of their responsibility in terms of the valorisation of their money and the successful development of the fund, as it exerts remarkable influence on future activities and projects, notably in the areas of social support, charity and education. The Diocese of Litomerice, for example, this year has bought a building in Dobranov, using financial compensation resulting from the agreement on property between the State and the Catholic Church. The local Caritas has transformed it in social housing units for families or single parents with children in financial difficulties. “Thanks to this temporary help I could solve some of my problems, finding great support in the local parish community that has allowed me to return to normal life”, said Pavla, a single mother with several children. Another positive example is the foundation of the so-called “social farm” in Velenice, which creates jobs in agriculture for marginalized groups of people living in the region, characterized by a high unemployment rate. The project started as an investment by the local Caritas office (49%) and the Diocese of Litomerice (51%), and it aims to become a profitable business with a strong element of solidarity. There are many similar examples, which show that it’s possible to make a commercial activity work with the heart, with a strong emphasis on the specific mission of the Church: solidarity with people in need. “It’s a modern form of entrepreneurship that deals not only with profit but especially with the social dimension of employment”. Harmony in priorities. Czech and Moravian bishops have dedicated major attention to cooperation with national and regional authorities, with an impact on all areas of life. “It is a question of establishing long-term cooperation. It’s important from our viewpoint, as citizens of this Country, because we don’t live here for the period of an election or for the period of the ministry of a bishop. Only commitment with a long-term perspective delivers the right fruits, those of our experience”, pointed out Cardinal Dominik Duka, who underlined that man must be at the centre of all the policies linked to social structures. With this goal in mind, the Catholic Church plans to develop her projects and her activities including financial ones, along with the investment of proceeds from the property Agreement.