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Sat 18 Apr 2020 12:00 PM

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Coronavirus: HSBC to provide $1.2m support for MENAT projects

Over half-a-million dollars has been allocated to projects in the UAE, which is expected to reach around 13,720 people impacted by the Covid-19 pandemic

Coronavirus: HSBC to provide $1.2m support for MENAT projects

Sabrin Rahman, HSBC's head of sustainability in the MENAT region.

Global banking giant HSBC is set to boost a range of projects throughout the Middle East, North Africa and Turkey (MENAT) region to the tune of $1.2 million.

The projects in Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar and the UAE will help an estimated 80,000 underprivileged individuals and families impacted by the Covid-19 pandemic.

The funding, which is part of the group’s $25m worldwide support package, will also help hospital workers in the frontline fight against the virus.

Sabrin Rahman, HSBC's head of sustainability in the MENAT, said: “We have acted quickly to the urgent call for support by putting our resources to work where they have the biggest impact and donating to specific projects so that we are able to ensure accountability and track the real impact our funding has had on people's lives.

“We carefully selected local charity partners that have track records of being able to identify and help vulnerable communities by getting them food, medicine and education resources.”

Some $505,000 has been allocated to projects in the UAE, which is expected to reach around 13,720 people.

HSBC MENAT’s student-focused future skills programme will pivot to be delivered remotely, using e-learning channels, while its entrepreneur-targeted programmes, such as the Social Impact Accelerator (C3) and the TiE Mentorship Programme, will also adopt virtual and online sessions.

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