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Mar 26, 2020 9:35 AM ET

Tencent launches $100M fund to fight COVID-19


iCrowd Newswire - Mar 26, 2020

Views of Tencent’s New Headquarters

Tencent this week announced the launch of the Global Anti-Pandemic Fund, a $100 million effort designed to help curb the devastating spread of COVID-19. The news follows the launch of $100 million funds from fellow tech giants Netflix and Facebook

In the case of the Shenzhen-based corporation, initial funding will go to practical and vitally important health supply donations, including protective gear and other products for hospitals and healthcare first responders.

Tencent notes that the effort is only the latest from the company. It previously set up an Anti-Pandemic fund to support healthcare workers in its native China, with around $211 million allocated as part of that effort.

“COVID-19 is drastically impacting people around the world,” Tencent President Martin Lau said in a press release. “We are facing this challenge together and Tencent is committed to supporting the international emergency response. Based on the experience in China and feedback collected from hospitals around the world, we recognize there is an urgent need for PPEs and other medical supplies, particularly at the onset of the pandemic, when traditional supply channels cannot meet the sudden surge in need.”

For now, the most pertinent donations are certainly healthcare supplies, as locations all over the globe experience mass shortage of vital equipment like masks and ventilators.



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