Oct 25, 2017
In response to the aftermath of Hurricane Maria, J.P. Morgan has mobilized to ensure the delivery of 150 million water bottles to Puerto Rico.
The Global Trade Finance Operations team worked directly with Lipsey Logistics Worldwide, the largest bottled water supplier to the Federal Emergency Management Agency (FEMA), to streamline the shipment of 800 containers from Long Beach, California to the stricken island with a $3 million Letter of Credit. With J.P. Morgan’s support, Lipsey Logistics Worldwide are planning several similar shipments.
The firm has also pledged $500,000 to local nonprofits and organizations works on the ground, including the Community Foundation of Puerto Rico and the Boys and Girls Club of Puerto Rico. The firm has also launched a campaign to match employee donations.
The support is an addition to the firm’s donation to Hurricane Irma relief efforts in the U.S. and the Caribbean, including Puerto Rico, Dominica and other islands.