Mastercard has announced a $10 million commitment to address COVID-related needs in India, where the numbers of virus-related diagnoses and deaths have skyrocketed in recent weeks, overwhelming the healthcare system in many areas.
Awarded through the Mastercard Impact Fund, the commitment will help fund access to hospital resources, the purchase of oxygen, and support for the company's employees in India. The largest portion of the funds will support the deployment of portable hospitals to address immediate medical needs in hard-hit areas and bolster the country's healthcare infrastructure. Working with the government and local partners, the hospitals, when fully deployed, could help an estimated 2.5 million Indians receive health care.
As part of a broader corporate effort, Mastercard also is allocating funds for the shipment of a thousand oxygen generators; donating to local charities and NGOs in support of those impacted by the virus, including frontline medical workers; and matching employee donations to its Employee Assistance Fund up to $15,000 per employee.
"The situation in India is gut-wrenching; it's clear that no one has been left untouched and that no one can be a bystander," said Mastercard executive chair Ajay Banga. "[I]t's time for us to put our shoulders to the wheel and do whatever we can to help all of India get through this intensified crisis."