Coronavirus: Barclays launches £100m community fund for charities

Barclays has launched a £100m community aid package to help support charities through Covid-19.

The fund is made available through the establishment of The Barclays Foundation, which has been set up to initially provide funding for charities working to support people impacted by the pandemic and to help alleviate the associated social and economic hardship.

The package comprises of a corporate contribution of £50m, which will be donated to, and deployed via, a variety of charities working in response to coronavirus.

It will initially be distributed in the UK, but also in Barclay’s international markets, including the USA and India.

A further £50m will be committed by Barclays to match personal donations made by employees to charities of their choice, which are local to them and working to support communities impacted by the crisis.

The company’s chairman, Nigel Higgins and group CEO, Jes Staley and the group finance director, Tushar Morzaria have pledged to donate a third of their fixed pay for the next six months to charities engaged in supporting vulnerable people impacted by Covid-19. Their donations will be matched in full by the company under the matched donation programme.

“We want to do more to back the communities in which we live and work, and to provide help to those who have been hardest hit by the consequences of the coronavirus pandemic,” Barclays Group CEO, Jes Staley, said.

“That’s why we’ve launched this community aid package, which we hope will make a positive difference, working with charity partners here in the UK and around the world to deliver help where it’s needed most.”

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