Banks Join Together on Darfur Aid Effort
October 5, 2007 | Read Time: 1 minute
The Darfur Project, created by a group of high-powered Wall Street bank leaders and a small charity called the Bridge Foundation, will pay for eight private airlifts over the next six months to the Western region of the Sudan to deliver antibiotics and other medical supplies to refugees, reports The New York Times.
BlueMountain Capital Management, Goldman Sachs, Merrill Lynch and PNC Financial, as well as other banks, have thus far pledged $2-million to cover the flights and hope to encourage other businesses to participate.
The project delivers aid to refugees but also aims to raise awareness of the humanitarian crisis.
Experts say it is an unusual type of corporate involvement. Mark Kramer, managing director of FSG Social Impact Advisors, says that “corporate philanthropy is often driven by the interests of your customers and desire to strengthen your reputation. It is rare to see them working in an area that is a tough, unpleasant issue and that is pretty far removed from their customer base.”
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