In a time of such need and with the economy in the shitter, it's nice to see people helping out. And Giorgio Armani is helping out in a big way.

A million dollars big!

The fashion giant Armani has announced that he is making a $1 million donation to promote arts programs in the New York City Public School.

The money will create the Armani Arts Institute, which will then fund different arts initiatives in many of NYC's poorest school districts.

In a statement, the generous designer said it was “an investment in the future generations of New York City. What excites me most is that we are not just providing the wood for dance floors and the oil paints for our future artists. More importantly, we are giving young kids a chance to dream.”

The donation will help the Fund for Public Schools, which is a nonprofit collecting money to support the school system.

The vice chairwoman of the fund, Caroline Kennedy, also added that Armani is “an example to all of us that even in difficult times we must continue to look at the future for hope and inspiration and let our children know that we are determined to help them build a better world.”

Nice job!

Now if only your clothes weren't so expensive!

[Image via WENN.]