- Investment bank and financial services company Morgan Stanley announced a $10 million cash commitment in aid to support coronavirus relief efforts
Investment bank and financial services company Morgan Stanley announced a $10 million cash commitment in aid to support Coronavirus relief efforts. The funding will support critical frontline medical responders globally as well as community providers serving those economically impacted by the crisis. And the first three grants of $2 million each were announced for Feeding America, the CDC Foundation, and the World Health Organization’s COVID-19 Solidarity Health Fund.
“During this unprecedented health crisis, Morgan Stanley is committed to doing everything possible to support the most vulnerable in our communities,” said Joan Steinberg, Global Head of Philanthropy at Morgan Stanley. “We are proud to support these organizations that are on the front lines fighting the spread of the Coronavirus, and the communities and children who are impacted by the disruption to daily life that has resulted from efforts to control the spread of the disease.”
The grant for Feeding America (a long-time partner of the Morgan Stanley Foundation) will help food banks secure the food and other resources they need for continuing operations and serving the most vulnerable members of the community during this difficult time.
Morgan Stanley pointed out that it is committed to providing children with a healthy start to life, and access to nutritious food is a crucial part of that mission. So Morgan Stanley supported Feeding America since 2009 and spent the last decade working with member food banks to help develop, launch, and sustain critical child nutrition programs through child hunger grants while expanding access to fresh produce through produce grants. Plus employees have volunteered in thousands of projects at local Feeding America network food banks across the country to fight childhood hunger.
The donation for the CDC Foundation will be used for meeting emerging needs, including additional support for state and local health departments, the global response, logistics, communications, data management, personal protective equipment, and critical response supplies among a number of other necessities.
And the donation to the COVID-19 Solidarity Response Fund for the World Health Organization is going to help the WHO track and understand the spread of the virus and help frontline workers with essential supplies and information.
In February, Morgan Stanley also provided grants of $500,000 and an additional $500,000 in employee matching to charities supporting the initial outbreak in Wuhan, China.