HSBC India commits Rs 75 cr to India’s fight against COVID-19

By: |
April 30, 2021 5:49 PM

This financial support will be provided through on-ground non-profits and development agencies in India this year, focused specifically on frontline warriors and marginalised communities at large, HSBC India said in a release.

In September 2020, HSBC had downgraded Azure Power to ‘hold’, mainly because of uncertainties related to the government finding buyers of electricity from the solar projects awarded to the company.In September 2020, HSBC had downgraded Azure Power to ‘hold’, mainly because of uncertainties related to the government finding buyers of electricity from the solar projects awarded to the company.

HSBC India on Friday pledged financial support of around Rs 75 crore (USD 10 million) for the ongoing COVID-19 relief efforts in the country.

This financial support will be provided through on-ground non-profits and development agencies in India this year, focused specifically on frontline warriors and marginalised communities at large, HSBC India said in a release.

It will be utilised 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.

“In line with our commitment to the communities where we operate, we have 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 Surendra Rosha, Group General Manager and CEO, HSBC India.

This contribution is in addition to the Rs 50 crore (USD 6.7 million) donated by HSBC India until now to support the COVID response in India.

Coordinated by over 40 NGO partners supporting frontline warriors, migrants, transgender community, people with disability and communities at large across 14 states, this money helped to provide PPE for healthcare and other frontline workers, medical supplies to hospitals and healthcare centres, handwashing stations in hospitals, and essential food supplies for around 600,000 of the most vulnerable members of society.

An additional Rs 1.34 crore was contributed by colleagues from HSBC and its Group companies. HSBC globally has also committed Rs 11.2 crore (USD 1.5 million) to UNICEF to support their work to deliver COVID vaccines to countries on behalf of the COVAX facility, to ensure equitable vaccine roll-out in-country.

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