JPMorgan Chase's head of corporate responsibility, Peter Scher, shared details of the fund with Business Insider.JPMorgan Chase announced Wednesday it's launching a $50 million fund in humanitarian aid and small business grants to help communities recover from the novel coronavirus outbreak.
The financial institution joins a number of companies making changes in the wake of the pandemic, including Facebook, which announced on Monday $100 million in aid to small businesses. JPMorgan Chase is announcing a $50 million package in global humanitarian aid and grants for nonprofits and small businesses amid growing fears of an impending recession caused by the coronavirus pandemic.
For example, $2 million will go to the COVID-19 Solidarity Response Fund that's jointly run by the World Health Organization and United Nation Foundation. $1 million will go to the nonprofit Feeding America, while another $1 million will go to the China Foundation for Poverty Alleviation, a nonprofit based in Beijing.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus: UK report projects 2.2 million deaths without action - Business InsiderA UK report that helped convince Trump to take coronavirus seriously projected that 2.2 million people could die in the US if we don't act Discover This New Online Strategy That Almost Nobody Knows About mattysino
Read more »