KUALA LUMPUR, March 19 -- JPMorgan Chase has announced a US$50 million global philanthropic commitment to address immediate public health and long-term economic challenges from the COVID-19 global pandemic. (US$1 = RM4.39)
According to a statement, the funds will support communities and people hit hardest by this public health crisis through an initial US$15 million commitment.
It includes US$5 million to provide immediate healthcare, food and other humanitarian relief globally; US$2 million to existing non-profit partners worldwide that are responding to the COVID-19 crisis in their communities; and, US$8 million to assist small businesses vulnerable to significant economic hardships in the United States, China and Europe.
Meanwhile, the remaining US$35 million will be deployed over time to help the most vulnerable communities and people recover from the crisis and have an opportunity to benefit from future economic growth.
The firm will lean into its core areas of expertise including financial health, jobs and skills, small business growth and neighbourhood development and apply lessons learned from initiatives like AdvancingCities.
JPMorgan Chase & Co is a leading global financial services firm with assets of US$2.7 trillion and operations worldwide. More details at www.jpmorganchase.com.
-- BERNAMA
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