HSBC, Europe’s largest bank, will spend $1.2 million (Dh4.4m) from a $25m global fund on charity projects in the Middle East, North Africa and Turkey region to help individuals and families affected by the coronavirus pandemic. The lender will “immediately begin making contributions to a range of projects in Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, and the UAE to help an estimated 80,000 underprivileged individuals and families impacted by Covid-19”. The funding will also help hospital workers fighting against the spread of the pandemic, HSBC said in a statement on Monday. HSBC first announced a $25m Covid-19 charitable fund in March and had so far donated $5m to relief efforts in mainland China, Hong Kong, the UK and India. The lender has supported organisations including the International Federation of Red Cross and Red Crescent Societies and the World Health Organisation.

Source: The North Africa Journal April 13, 2020 15:00 UTC