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.
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