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Update on our efforts to help with the COVID-19 pandemic
03/18/2020
Friends, As ever, JPMorgan Chase is committed to supporting our communities, and in response to these unprecedented circumstances, today we’re announcing a $50 million philanthropic investment to address the immediate public health and long-term economic challenges from the COVID-19 global pandemic. These funds will support vulnerable and underrepresented communities, small businesses and our nonprofit partners, which take on even greater and more critical importance in this environment. With these investments, we will continue to focus on those areas where we can leverage our core business, pillars and areas of expertise to make the biggest impact. As appropriate, we are engaging with our existing partners undertaking this important work. An initial $15 million commitment will:
The remaining $35 million will be deployed over time to help the most vulnerable communities and people recover from the crisis and have an opportunity to benefit from future economic growth. While addressing immediate needs is critical, so too are sustainable, innovative solutions to help small businesses and underserved communities recover long-term. Business has an important role to play in short and long-term relief efforts, and today’s philanthropic investment is in addition to the business resiliency measures we have already taken and shared last week. That said, we can’t do it alone. We know from our work with terrific partners to help lift up communities through programs like AdvancingCities that collaboration is key to driving long-term, scalable solutions. These are challenging times. I am thankful for each of you and your partnership, support and collaboration as we come together to find solutions in the weeks and months ahead. Please stay healthy and safe. Sincerely,
Peter L. Scher Back To News |
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