Macquarie Group Foundation to donate $A20 million to COVID-19 relief efforts

Macquarie Group today announced that it has allocated $A20 million to the Macquarie Group Foundation to create a fund to make donations to a number of organisations that are working to combat COVID-19 and provide relief for its impacts. The fund will focus on recipients addressing areas of immediate and medium-term need in Australia and across the regions in which Macquarie operates.

From the $A20 million funding, Macquarie will make an immediate donation of $A2 million to The Global FoodBanking Network to address critical food security needs across its network of more than 900 food banks in over 40 countries, including meals for children as many schools around the world remain closed. 

Other initiatives for the fund in the coming weeks and months may include support for frontline medical staff, diagnosis and treatment for patients, sanitation and hygiene initiatives to prevent further disease spread and initiatives to support workers and businesses in restarting economic activity.

Macquarie Group Chief Executive Officer, Shemara Wikramanayake, said: “The COVID-19 crisis is placing sudden and significant human and economic stress on communities around the world. The decision to make this additional donation, over and above the Foundation’s usual activities, is in recognition of the exceptional challenges that COVID-19 is presenting right now, and will present in the medium term, as communities turn their focus to economic recovery. 

“In keeping with the longstanding approach of the Macquarie Group Foundation, we will harness the expertise of Macquarie staff to direct funding to the initiatives having most impact in addressing this urgent issue.”    

The donation announced today follows the $A50 million commitment that Macquarie made in 2019 across five community health, social finance and environmental initiatives to mark its 50th anniversary.  This was in addition to more than $A30 million and thousands of hours of staff time and expertise contributed to non-profits in the 2020 financial year. Since inception in 1985, the Macquarie Group Foundation and staff have donated over $A400 million to thousands of non-profits around the world.

Find out more about Macquarie’s response to COVID-19 here.