Tag: oxygen

Credit Suisse offers ₹7.5-cr additional aid to Concern India Foundation, GiveIndia

Banking & Finance

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Credit Suisse has committed an additional ₹7.5 crore in aid to Concern India Foundation and GiveIndia, to provide financial assistance to hospitals in Mumbai, Pune, Delhi and Bangalore, to help India in its fight against the Covid-19 pandemic.

The financial aid would be utilised to procure critical medical supplies, oxygen and ICU equipment for the hospitals treating Covid-19 patients, it said in a statement.

Credit Suisse is also raising funds from its staff for GiveIndia’s India Covid Response Fund, which will then be matched by the bank through a separate donation. The campaign has already raised more than ₹2.8 crore of additional support so far.

Mickey Doshi, CEO India, Credit Suisse, said, “We are deeply concerned and anguished by the impact of the second wave of Covid-19 in India. Our thoughts are with our impacted colleagues and their loved ones, and with our clients and local communities. Credit Suisse stands in solidarity with everyone in the country during these extremely difficult times. The aid to Concern India and GiveIndia should help in procuring critical medical supplies and equipment for hospitals. This support is our small effort, alongside the notable endeavours of the rest of India Inc. as well as the Indian government, towards ensuring that our healthcare ecosystem gets all the help it possibly can during this unprecedented crisis”.

These initiatives follow the bank’s earlier ₹4.5-crore grant to Concern India Foundation and United Way Mumbai in April 2020, for the procurement of essential equipment at seven hospitals in Mumbai and Pune.

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Citi commits ₹200 crore more to support India’s Covid relief efforts

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Citi, on Wednesday, announced an additional ₹200 crore ($27 million) pledge over the next three financial years towards India’s recovery and relief efforts against Covid-19, as the country experiences a surge in cases.

Of the total pledged amount, ₹75 crore ($10 million) is being allocated immediately towards the procurement of oxygen supplies, adding beds to hospitals, diagnostic testing systems, personal protection kits and other supplies for India’s frontline healthcare workers, it said in a statement.

The funds will also be utilised towards food and hygiene supplies for low-income families.

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“We have been in India for more than 100 years, and the country is home to over 20,000 of our colleagues. We are determined to support India through this unprecedented health crisis,” said Peter Babej, Asia Pacific CEO of Citi.

₹75 crore deployed earlier

“Our efforts in India are an important part of our global commitment to fight Covid. Since the onset of the pandemic, we have focused on assisting communities around the world, including through financial support of $100 million from Citi and the Citi Foundation.”

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The additional pledged amount for India will also be used to fund public and private healthcare infrastructure and to impart employable skills to the youth, thereby promoting economic revival, important for India’s recovery.

“The resurgence in India, which is now overwhelming the country’s healthcare system, calls for efforts from all sections of our society to come together to bring India back on track. This is an extraordinary situation and while the need of the hour is for medical equipment, it is equally important to reinforce the country’s healthcare infrastructure for citizens’ health and safety,” said Ashu Khullar, India CEO of Citi.

Today’s announced commitment builds on the ₹75 crore Citi has already deployed in India towards pandemic relief efforts.

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