Visa Foundation today announces $ 1.6 million grant to the Red Cross to support recovery programs after COVID-19 in the countries of Central and Eastern Europe (including Ukraine) in the Middle East and Africa.
The Red Cross provides critical services for vulnerable communities through public health and disaster relief services.
This grant is part of the previously announcedVisa Fund commitments for US $ 210 million. The commitment includes $ 10 million to help with the COVID-19 pandemic, focusing on the emergency needs announced this week for organizations around the world, as well as $ 200 million to support the long-term needs of small and micro-businesses over the next five years. In total, Visa Foundation provides US $ 4.3 million for Red Cross programs related to the COVID-19 pandemic worldwide.
Visa Regional President for Central and Eastern Europe, the Middle East and Africa, Andrew Torre said:
Societies around the world are faced withthe unprecedented problems of the COVID-19 pandemic, the outbreak of which poses a huge burden on public health and other social services organizations. We are incredibly grateful and inspired by the tireless work of all humanitarian organizations and are glad that Visa Foundation grants will support the efforts of the Red Cross.
COVID-19 poses additional challenges tosociety, with many countries already suffering from the effects of poverty, insecurity, conflict or climate change. The Red Cross Grant aims to provide much-needed support to continue providing vital services throughout the region.
Upcoming five-year program with a budget of 200million US dollars to support small and micro-enterprises with a focus on promoting the economic development of women, which will be crucial for the long-term economic recovery after the COVID-19 pandemic. This commitment extends the long-standing support of the Visa Foundation for small and micro-businesses worldwide. Additional information on the grant and investment strategies of the Fund will be published in the coming months.
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