Morgan Stanley has announced an additional commitment of $15 million in support of COVID-19 relief efforts.
Building on a $10 million commitment announced last month, the bank's latest commitment will support organizations working to address food insecurity, care for the sick, provide financial support for the vulnerable, and control the spread of the disease. The bank also announced the launch of the Morgan Stanley COVID-19 Hunger Relief Campaign, which will match employee contributions to local food programs dollar-for-dollar up to $5,000. Feeding America estimates that as many as fifty-four million Americans will need food assistance in 2020, a more than 45 percent year-over-year increase.
"Food insecurity is an issue that Morgan Stanley and our foundations have focused on for decades, and we are committed to supporting our partner organizations that are on the front lines of addressing this problem during the current health crisis," said Morgan Stanley's global head of philanthropy, Joan Steinberg. "We know that families who do not have enough to eat simply do not thrive, and they greatly need support during this time."
(Photo credit: CDC Foundation)