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UBS Donates Rs 11.07cr For COVID-19 Relief Measures In India

UBS will support COVAX on education programmes and ensuring the equitable procurement and distribution of vaccines.

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Swiss bank UBS Group AG on Wednesday announced a donation of Rs 11.07 crore (USD 1.5 million) to support COVID-19 emergency and long-term relief programmes in India.

The first tranche of the donation will target the immediate supply of oxygen, medical supplies and medicine, the bank said in a statement.

In the initial phase, UBS said it will work with Swasti, a Bangalore-based NGO which designs and delivers health and well-being solutions across India.

In stage two, UBS will support COVAX on education programmes and ensuring the equitable procurement and distribution of vaccines.

In the third phase, UBS will team up with some of its existing partners in India to help build resilience in local communities and support mental well-being, it added.

Edmund Koh, President of UBS Asia Pacific and member of the Group Executive Board, said: 'As was the case last year, when we donated USD 1 million to support emergency relief for frontline and migrant workers, UBS is seeking to help alleviate the suffering in the worst affected regions.' The donation is made from UBS Optimus Foundation that pursues social impact in a variety of ways from traditional charitable giving to sustainable investing. 

(PTI)


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UBS Group COVID-19 relief swiss bank donation