Morgan Stanley is to give a £400,000 grant to The London Community Foundation (LCF) to support its community response to the Covid-19 crisis.
In the first 100 days of lockdown, LCF distributed over £4m in funds to help tackle the pandemic, with £1.3m committed to food and emergency supplies. However, with up to 1 in 5 Londoners experiencing food poverty as a result of the pandemic, need is increasing.
The new grant will be used to support local charities to provide food and emergency supplies; legal, housing and employment advice; mental health and domestic abuse support services, among other necessities, to BAME communities, including supporting BAME-led charities and community groups.
Kate Markey, CEO of The London Community Foundation said:
“The speed, agility and responsiveness of small organisations to meet the emergency has been inspirational but the challenge facing them, and communities they serve, is immense. These vital funds will contribute significantly to supporting charitable organisations tackling the social and economic fall-out from the crisis.”
As part of its global Covid-19 relief response, Morgan Stanley has already provided additional grants in EMEA and collaborated with charities addressing the crisis to provide equipment and support for hospitals, medical staff and vulnerable families across the region.
This saw funds go to Save The Children to provide emergency kits and food vouchers to support vulnerable families with young children in Italy, Spain and the UK, to Médecins Sans Frontières to provide support for its frontline responders in EMEA, and to NHS Charities Together to support NHS staff with practical essentials and mental health support in the UK.
It has also launched the Morgan Stanley COVID-19 Hunger Relief Campaign, which incentivised employees globally to contribute to local feeding programmes. Morgan Stanley employees in London raised over £370,000, including a Firm match, for The Felix Project to help tackle escalating food poverty in London.
These grants were part of Morgan Stanley’s $25 million commitment to charities addressing the pandemic.
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