Bank of America today announced it is committing $100 million to support local communities in need as the world faces unprecedented challenges from the coronavirus. The funds will help increase medical response capacity, address food insecurity, increase access to learning as a result of school closures, and provide support to the world’s most vulnerable populations.
“We must all work together as one global community – public and private sectors, as well as individuals – to address this healthcare and humanitarian crisis,” said Brian Moynihan, chairman and CEO of Bank of America. “As the needs in our local communities continue to rapidly escalate, we must take swift action to provide resources where there are gaps, and help local communities protect their most vulnerable populations.”
The majority of Bank of America’s funds will be distributed on the ground in local markets, focused on both immediate needs facing local communities and providing ongoing support in the months ahead. The company will also increase funding to several national and global organizations that are on the front lines, tackling the most pressing issues in local communities.
“Building on the efforts of local, state and international governments, we are focusing our resources on the number one priority – looking after people,” added Moynihan.
Source: Bank of America Coronavirus