Julius Baer pledges $ 1.4M for COVID-19 relief efforts in India
The Swiss company has said the donation will be equitably distributed to three NGOs: Apnalya, a Mumbai-based NGO working with the urban poor, Helpage India and UNICEF India, it said in a statement on Tuesday.
Global wealth management major Julius Baer has announced a $ 1.4M (around Rs 10.5 crore) commitment to support COVID-19 relief efforts, which will primarily go to nonprofits to help the needy households in the country hit by the second wave of the pandemic.
The Swiss company has pledged to make the donation that will be equitably distributed to three NGOs: Apnalya -- a Mumbai-based NGO working with the urban poor, Helpage India and Unicef India, it said in a statement on Tuesday.
Ashish Gumashta, Julius Baer India chief executive shared, “Our thoughts go out to the communities in India that have been devastated by the health and economic damage caused by the second wave of the pandemic. Julius Baer is committed to offering the very best to help humanity recover from this dark period and we are confident we will emerge from this unprecedented time with renewed strength and hope.”
A minor donation will also be made to the Swiss-Indian Chamber of Commerce that is working in the area of transporting critical health materials into the country.
Image: Pixabay
The funds will be utilised by these NGOs to support vulnerable families with ration kits, mass screening and vaccination programmes, as well as food and health protection initiatives for the elderly and migrant labourers.
An internal employee fundraising initiative has also been launched via JB Cares (the philanthropic association run by Julius Baer employees) that has collected around $ 100,000 within two weeks, and this was fully matched by the Julius Baer Foundation with an additional $ 100,000.
“Julius Baer stands in solidarity with India in these exceptional times. Our donation will support vital relief efforts and help those with most immediate needs. We continue to keep our thoughts focused on those who are suffering across the country," Jimmy Lee, head Asia Pacific and a member of the executive board at Bank Julius Baer.
(Disclaimer: Additional background information has been added to this PTI copy for context)
Edited by Anju Narayanan
