Multinational corporations are donating millions to help Japan, some in cash and some in kind.
According to the US Business Civic Leadership Center’s corporate aid tracker, global corporate assistance for the Japanese crisis has reached approximately $137 million. “Already, the corporate response to this tragedy is in the top five of international disaster responses by the business community,” said BCLC disaster manager Gerald McSwiggan on BCLC’s website. “Through experience with many disasters over the past 10 years, companies understand that many long-term needs will arise over the coming weeks and months.”
Citibank, for example, has raised $1.2 million from business to help disaster-torn Japan and has matched this amount with a further $1.2 million from Citi Foundation, Batara Sianturi, head of Citibank Hungary told journalists at a press conference. Citi will also soon open avenues in Hungary to contribute to relief efforts in Japan, he added.
Some other financial in institutions have pledged to send millions to Japan are Goldman Sachs (¥500 million (about $6.1 million) to relief and recovery efforts), JPMorgan Chase ($5 million), Morgan Stanley (¥100 million yen).
Many other multinationals are contributing partly in cash, and partly in products. Coca-Cola has pledged ¥600 million in cash and product donations to the relief effort in Japan following the earthquake and tsunami. The contribution includes more than 7 million bottles of beverages such as water, tea and sports drinks. Coca-Cola Japan and its 12 bottling partners will provide the beverages to national and local government authorities and other community groups for distribution. Microsoft is making an initial commitment of $2 million, which includes $250,000 in cash as well as in-kind contributions such as software.
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