Morgan Stanley Announces $10 Million Cash Commitment to Support Coronavirus Relief Efforts
NEW YORK, March 19, 2020 /3BL Media/ – Morgan Stanley (NYSE:MS) today announced a $10 million cash commitment in aid to support Coronavirus relief efforts. Funding will support critical frontline medical responders globally as well as community providers serving those economically impacted by the crisis. 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 to Feeding America, a long-time partner of the Morgan Stanley Foundation, will help food banks secure the food and other resources they need to continue operations and serve the most vulnerable members of the community during this difficult time. Morgan Stanley is committed to providing children with a healthy start to life, and access to nutritious food is a crucial part of that mission. The Firm has supported Feeding America since 2009 and has 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. Employees have also volunteered in thousands of projects at local Feeding America network food banks across the country to fight childhood hunger.
The donation to the CDC Foundation will be used to meet 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 other necessities.
The donation to the COVID-19 Solidarity Response Fund for the World Health Organization will help the WHO track and understand the spread of the virus and help frontline workers with essential supplies and information.
Previously, in February, the Firm provided grants of $500,000 and an additional $500,000 in employee matching to charities supporting the initial outbreak in Wuhan, China.
Morgan Stanley is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 41 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.