Bank of America supports Chile disaster relief and recovery
March 9th, 2010
In response to the recent devastating earthquake in Chile, which caused an estimated death toll of 800 lives, Bank of America is committing $250,000 in disaster relief funding to support immediate and long-term disaster recovery efforts. The earthquake damaged critical infrastructure including bridges, public institutions, hospitals and schools and has caused loss of electricity, water and telephone lines.
Despite Chile’s strong economy and decades of political stability, the disaster is expected to cause critical challenges with regard to access to health services and recovery costs for the country are estimated at $30 billion.
“We are deeply saddened at the impact of this disaster on individuals and families in Chile as well as on associates who have friends and family affected,” said Kerry Sullivan, president of the Bank of America Charitable Foundation. “As the victims of this tragedy begin to rebuild their lives and their cities, they will need immediate assistance from organizations and individuals around the world to address their immediate and long-term needs.”
Bank of America’s $250,000 commitment will support immediate relief and recovery efforts through a $50,000 donation to each of the following organizations: American Red Cross, World Vision and Habitat for Humanity.
The American Red Cross will support on-the-ground relief operations to assist 75,000 people for six months, focusing on shelter, water and sanitation, health and telecommunications
World Vision has sent relief supplies such as blankets and collapsible water containers, implemented a program to help children recover from the trauma of an earthquake, and will help provide additional high-priority supplies including water tanks, water purification tablets, cooking tools, hygiene kits, and lanterns. World Vision has been working in Chile for 30 years and has more than 100 staff members in the country.
Habitat for Humanity has constructed more than 1,300 homes in Chile and will assist in reconstruction efforts, especially in hard-hit rural areas.
We are deeply saddened at the impact of this disaster on individuals and families in Chile as well as on associates who have friends and family affected.”
Kerry Sullivan, president of the Bank of America Charitable Foundation
As recovery efforts evolve in the coming weeks, a remaining $100,000 in contribution will be directed towards the long-term rebuilding efforts, including restoration of critical services on the ground for impacted communities.
Associates around the world who donate to disaster relief efforts are encouraged to extend their donations further by utilizing the Bank of America Charitable Foundation’s Matching Gift Program, which doubles associate donations to eligible nonprofit organizations (up to $5,000 per associate annually).
Associates donating to disaster relief should first make their charitable gift directly to a nonprofit organization and then record their donation for a matching gift via the Bank of America Charitable Foundation website. In recognition of the importance of each donation, the Bank of America Charitable Foundation has lowered the matching gift minimum amount from $25 to $1 until March 31, 2010.
Recommended Nonprofit Organizations for Matching Gift Donations
American Red Cross
Save the Children
UNICEF
World Vision
Mercy Corps
Habitat for Humanity International
United Way Worldwide / Corporacion Sociedad Activa
Salvation Army
Doctors without Borders
Catholic Relief Services, Caritas Internationalis
Olive Akhigbe
Vice President, Community Relations Manager DC-MD-VA
Global Corporate Social Responsibility| Bank of America