HSBC India pledges $10 million to support India against its battle with COVID

HSBC India on Friday announced financial support of around Rs75 crore ($10 million) to the ongoing efforts in the fight against covid-19.

This financial support, it said, will be provided through on-ground non-profits and development agencies in India, focused specifically on front line warriors and marginalized communities at large. It will be utilized to support projects for providing medical supplies, medical equipment for covid-19 care centres including oxygen supplies, hygiene kits, vaccination, livelihood support and food rations, the bank said in a statement.

The bank joins an increasing number of corporates, domestic and overseas, supporting the nation’s fightback against the second wave of the coronavirus.

Surendra Rosha, group general manager and chief executive of HSBC India said that in line with its commitment to communities where it operates, the bank has been actively engaged in supporting relief operations in the fight against covid-19.

“Our latest round of financial support is part of our ongoing endeavour to supplement critical interventions during this time when we are seeing a resurgence of the virus,” said Rosha.

This contribution is in addition to the Rs50 crore ($6.7 million) donated by HSBC India until now to support the covid-19 response in India. Coordinated by over 40 non-governmental organization (NGO) partners, this money helped provide personal protective equipment (PPE) for healthcare and other front line workers, medical supplies, and essential food supplies for around 600,000 of the most vulnerable members of society, it said.

HSBC India said that an additional Rs1.34 crore was contributed by colleagues from HSBC and its group companies. Globally, the lender has also committed Rs11.2 crore ($1.5 million) to Unic to support their work to deliver covid-19 vaccines to countries on behalf of the COVAX facility, to ensure equitable vaccine roll-out in-country. Led by the World Health Organization (WHO) with the Coalition for Epidemic Preparedness Innovations (CEPI) and Gavi, the COVAX initiative tries to ensure equitable access to covid-19 vaccines across the globe.