Supporting local communities to help address the global impact of the coronavirus

As the coronavirus continues to disrupt day-to-day life around the globe, local communities are forced to deal with a myriad of challenges including increased food insecurity, medical response capacity, disruptions in education and more. As these challenges mount, it’s critical that our communities receive the aid and resources they need to maintain the health of their neighborhoods and, most importantly, residents. “We are focusing our resources on the number one priority — looking after people,” said Brian Moynihan, CEO, Bank of America.

Recognizing the importance of helping to support communities needs during this challenging time, Bank of America has committed $100 million in philanthropic grants to address the impact of the coronavirus, including immediate humanitarian needs delivered by local organizations and global nonprofits. This is in addition to the $250 million in philanthropy we provide each year.

Making an impact locally

The majority of Bank of America’s additional $100 million commitment will be distributed on the ground in local markets. Through April 17, we have provided more than $70 million in assistance to more than 1,000 organizations in local communities across the U.S. These grants specifically address immediate needs facing local communities on food insecurity, medical response and protecting vulnerable populations.

Addressing food insecurity and medical needs

To help address immediate humanitarian needs related to hunger and medical response/capacity, Bank of America is providing $4.5 million to the following U.S. and global nonprofits:

Feeding America is the largest hunger relief provider in the U.S. with a network of more than 200 food banks across the country. Our $1 million grant to Feeding America and more than $15 million to its partner food banks across the U.S will support national food purchasing programs, production of additional emergency food boxes to address high need across the country, and direct grants to local food banks to cover increased costs due to coronavirus response efforts.

The CDC Foundation supports the work of the state and local health departments of the Centers for Disease Control and Prevention (CDC). Our $500,000 in grant assistance will help the CDC Foundation focus on gaps in the healthcare system and will support local containment and mitigation measures, supply chain issues, testing capacity and the surge in hospital and medical office needs. 

The World Food Programme (WFP) is the world’s first responder to hunger issues and pandemics throughout communities around the globe. Recently, the WFP supported China’s frontline hospitals in Hubei, and it is currently working in Italy. It is active in the anticipated coronavirus priority regions of Asia Pacific, Africa, Latin America and the Middle East. Our $1 million grant will immediately support efforts in these regions.

The Global FoodBanking Network (GFN) is directing emergency business continuity grants to food banks around the world that are experiencing significant drops in donations and product sourcing. Our support of $1 million will directly serve food banks in Mexico, Europe, Middle East, Africa, and Asia Pacific.

The International Federation of Red Cross and Red Crescents (IFRC) is working in 53 countries to help screen and contact trace, provide psychosocial support, clinical, paramedical and homecare services, and emergency social services and essential services for quarantined, vulnerable and affected populations. Our $1 million grant will help support the IFRC as it continues to adapt to increasing needs, including those in countries in Europe, the Middle East, Africa, and Latin America/Central America, as well as India, Indonesia, and the Philippines.

Our continued support

Learn more about our commitment of $250 Million in capital and $10 million in philanthropic grants to Community Development Financial Institutions (CDFIs).

As the impacts of the coronavirus continue to evolve, the needs in local communities worldwide will evolve, and we will continue to work with partners to provide critical support. In addition, our commitment to ongoing programs vital to the economic growth of communities – such as our support of the arts – remain during this challenging time.

Additionally, we continue to share information with our employees on how they can help support their local communities, including lowering Bank of America’s matching gift minimum to further the impact of employee giving.

To learn about everything we’re doing to support our clients, communities and each other during this unprecedented time, check our Coronavirus Resource Center.

4/20/2020


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