Banking giant Barclays has announced the launch of a £100 million package in an effort to help those most affected by the Covid-19 epidemic.
The association, called the Barclays Foundation, will split the £100 million earmarked for the programme in half. £50 million has been committed to charities and organisations, the other half is set up as an employee donation matching scenario.
The associations benefitting from the generous donation will go directly to charities helping the most vulnerable during the health crisis. The lion’s share will go to UK-based organisations, but some will be made available to help out in places such as India, the United States and other countries where Barclays has a presence.
The main focus of the monies will be on the elderly and those most susceptible to the virus, as well as supporting health care and other key workers who are tirelessly helping the sick and people in need.
The second £50 million is headed for a donation matching programme. The bank is promising £1 for every £1 pound donated by employees to charities of their choosing, so long as they are amongst those working in the fight against the impact of the virus.
The pledges have already started coming in and include contributions by several senior executives, such as Nigel Higgins, chair of Barclays PLC, Jes Staley, chief executive of Barclays Group, and Tushar Morzaria, the group finance director, who have already pledged a third of their salaries over a six month period.
“As a bank we have been doing all we can to look after our customers, clients, and colleagues through this crisis, made possible by tens of thousands of amazing and dedicated Barclays people around the world who have been doing their utmost to keep our services running, and support the economy,” said Mr Staley about the launch of the package.
“We want to do more to back the communities in which we live and work, and to provide help to those who have been hardest hit by the consequences of the coronavirus pandemic.
“That’s why we’ve launched this community aid package, which we hope will make a positive difference, working with charity partners here in the UK and around the world to deliver help where it’s needed most.