JPMorgan said it will to donate $50 million to groups and organizations that provide support and supplies to people affected by the coronavirus all over the world, according to a report by Reuters.
The first $15 million will go to groups directly dealing with how the virus is affecting people directly, with $5 million to institutions that handle community development, to dole out low- or no-interest loans. The bank has earmarked $3 million to international groups that provide the same service.
The bank plans to donate $2 million to the COVID-19 Solidarity Response Fund run by the United Nations and the World Health Organization (WHO). It will also give $1 million each to Feeding America, GlobalGiving Foundation and the China Foundation for Poverty Alleviation.
There will be $2 million going to nonprofits, and $35 million to “medium-to-long term challenges communities are likely to face as the COVID-19 crisis continues to unfold.”
Amazon will also be donating money to help with the crisis, and it’s one of the only companies seeing growth during the pandemic, according to a report by TechCrunch.
The company is going to donate $1 million between four organizations in Washington, D.C. that are fighting the coronavirus: ACT for Alexandria, Arlington Community Foundation, Community Foundation for Northern Virginia and the Greater Washington Community Foundation.
The foundations focus on people who have been the most affected, like the homeless, the elderly and people who work hourly jobs that have been put on hold due to the COVID-19 outbreak.
Amazon is also going to give cash to food banks in the region, which will use the money to provide necessities for families and persons in need.
Amazon also recently created a $5 million Neighborhood Small Business Relief Fund to aid businesses facing economic troubles, and has contributed another $1 million to a Seattle fund for people dealing with the virus. Amazon has a large presence in Seattle, and the city is one of the hardest hit by the pandemic.