Firm commits $5 million in aid to victims of Japan earthquake
Mar 14, 2011
New York City – JPMorgan Chase announced today that it would commit $5 (USD) million to near-term relief and recovery efforts in Japan in the aftermath of its worst earthquake on record. JPMorgan Chase is also encouraging employees to contribute to the rescue efforts being led by The American Red Cross and World Vision, with the firm matching these contributions.
“Our thoughts and prayers are with the people of Japan at this time,” JPMorgan Chase CEO and Chairman Jamie Dimon said. “This donation is to help both with immediate needs as well as the ongoing relief and recovery efforts in the months ahead.”
This donation includes the following components:
- $1.1 million, which has been already been pledged by JPMorgan Chase Japan.
- $1 million to match contributions to The American Red Cross and World Vision by the bank’s more than 220,000 employees, including more than 1,300 in Japan.
- The balance of the $5 million commitment will be used to support charitable and relief organizations helping with for the recovery efforts.
This commitment will assist with efforts such as setting up temporary shelters, offering medical assistance, helping with sanitation and handling the most pressing issues immediately following the disaster. Exact allocations will be determined in the coming weeks following a full assessment of the earthquake’s damage and the country’s needs.