STANDARD CHARTERED BANK DONATES THE SUM OF $10 MILLION TO RED CROSS AND UNICEF

Standard Chartered PLC, a British multinational banking and financial services company announced their donations to United Nations children’s fund UNICEF and the Red Cross the sum of $10 million, 20% of the $50 million COVID-19 global charitable funds.
The group further announced the details on how the short-term relief and long-term assistance will be provided. The relief would be provided for various communities across 59 markets.
In the first phase of the relief fund, phase 1, the relief would be distributed among these communities starting in July 2020. The sum of 25 million dollars will be provided for immediate relief for COVID 19.
The Red Cross will get the sum of $5 million to assist in urgent medical support which could include provisions for primary and secondary healthcare, provisions of personal protection equipment for Red Cross staff, communication of protective measures, Care and education packages and distribution of food for the individuals and families deeply impacted by the COVID-19 pandemic.
UNICEF will also get an equal amount of $5 million for the educational support of children in vulnerable regions such as Africa and South Asia. The fund will be used to provide education for the children in these regions via TV, radio, mobile platforms, etc.
In the second phase of the relief fund, phase 2, the relief will be used to assist in recovering the economy and protecting people’s livelihood. Standard Chartered PLC will provide the sum of $25 million to protect employment and educational opportunities that have been impacted by the COVID-19. The funding for the second phase will resume in August 2020 with a target to complete the project by the end of 2021