For instance, HSBC UK recently made £1m donation to National Emergencies Trust Coronavirus Appeal and British Red Cross to help people impacted by the virus.
HSBC sustainable finance global head Daniel Klier said: “The COVID-19 challenge is a marathon, not a sprint.
“There will be no quick fixes or easy wins. We hope these donations can help make a difference to the people and societies we serve, now and in the future.”
In China and the US, the bank is engaging its clients with the suppliers of Covid-19 test kits and other medical equipment with logistics firms and national health authorities.
Last week, Bank of America also donated $100m and Washington Trust Bank announced Covid-19 measures.
HSBC announces USD25 million COVID-19 donation fund
By FF Newsroom · 27 March 2020
HSBC has committed $25m in charitable donations to help affected people recover from the deadly coronavirus (Covid-19) outbreak.
The latest donation is in response to medical services in several countries being under huge pressure due to the Covid-19 crisis. Through this aid, the bank intends to support the international medical response, protect vulnerable people and ensure food security globally. Of this figure, $15m will be made available immediately, with the remaining $10m set aside for long-term COVID-19 commitments.
HSBC has immediately made available an initial $15m donation with the remaining $10 set aside for medium to long-term Covid-19 commitments.
Of the $15m, the bank has committed $1.75m to relief efforts in mainland China and India. This adds to the donations made through long-standing philanthropic partnerships in Hong Kong and across Asia The bank has given $2m to global charities coordinating the international response. The remaining amount will go to key locations around the world where the donation can make the maximum difference.