Published 13:51 IST, March 18th 2020
Walmart pledges $25 million to the global coronavirus response effort
Walmart on March 17 committed $25 million to the global coronavirus response effort, the retail company announced. It said it was to help meet critical needs
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Walmart on March 17 committed $25 million to the global coronavirus response effort, the retail company announced on its website. It said that the move was made in order to help meet “critical needs” that have emerged due to the COVID-19 pandemic.
“In times of need, we see communities come together to do extraordinary things. This pandemic is no different. We are humbled by the efforts of our store associates, nonprofit partners, and citizens across the globe who are coming together to support those in need. We hope these grants will help to expand critical response efforts as we continue to work together to address the impact of COVID-19.”
According to the website, the monetary commitment is intended to provide $5 million to support global efforts to help countries prevent, detect and manage the coronavirus, $10 million to support food banks, school meal programs and organisations that provide access to food for underserved populations and the remaining $10 million to support efforts in local communities in the United States and international markets.
This comes as the deadly virus has infected over 1,98, 770 people and claimed over 7,990 lives across the globe. According to reports, the first grants are expected to be issued this week whereas details regarding individual grants are expected to be released as soon as they are finalized.
UAE bank pledges $27 billion
The central bank of the United Arab Emirates, on March 15 announced a $27 billion stimulus package to deal with the economic effects of the coronavirus pandemic. The money will go toward supporting the country’s banks, and regulatory limits on loans will be eased. Nations across the Middle East have pledged to stimulate their economies as they weather the global pandemic, which has led to widespread school closures, the cancellation of sporting and other events, as well as sweeping lockdowns in some hard-hit areas.
13:51 IST, March 18th 2020