Standard Chartered Bank (SCB) said it has been cited by Leathwaite International Llp among nine companies that are leading in the global response to the Covid-19 pandemic.
SCB said it was highlighted by the London-based headhunter for its $50-million fund to support victims of the pandemic.
From this amount, the bank used $25 million for immediate relief efforts in the most impacted communities, including a $10-million donation to Red Cross and Unicef, and $15 million allocated to local nongovernment organization (NGO) partners across its markets, the bank said. “The remaining $25 million will be used to support long-term recovery efforts through employment and educational opportunities,” SCB added. “Part of the funds for long term recovery will be donated directly by the bank’s employees through a giving campaign.”
In the Philippines, the bank gave $250,000 or P12.5 million for immediate relief efforts in the country.
SCB Philippines said the funds provided 10,000 family food packs to vulnerable communities in NCR and Region 4A, more than 11,000 sets of reusable protective personal equipment (PPE) to 40 hospitals and treatment centers in the country and financial assistance to the bank’s non-employed workers.
SCB Philippines CEO Lynette V. Ortiz highlights the longer-term economic and health impact of
Covid-19.
“We have a vital role to play in supporting our colleagues, clients and our communities,” Ortiz was quoted in a statement as saying. “Our immediate goal is to deliver relief measures to support the most vulnerable. But we can’t lose sight of what lies ahead that’s why the bank is also focused on how to support economic recovery and protect livelihoods across our markets after the pandemic.”
“We are witnessing solidarity at its best as we see communities, organizations and individuals all around the world extending practical help, “according to Mai Sangalang, head of corporate affairs, brand and marketing. “The bank’s immediate response to the outbreak—the commitment of $1 billion to finance companies that help fight Covid-19 and the $50-million aid fund, are some of the ways that the bank demonstrates its commitment to be here for good.”
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