Caterpillar Foundation, the philanthropic arm of NYSE-listed Caterpillar, on Monday announced an $8.5-million commitment to support global communities, including underserved populations, who are affected by the fast-spreading coronavirus.
The foundation's investment will support nonprofit organisations, which are working to help prevent, detect and respond to the pandemic, providing resources to hospitals, medical staff and patients, addressing food insecurity and enabling online STEM and coding education for youth impacted by school closures.
"These investments are an important expression of our company's values," said Caterpillar chairperson and CEO Jim Umpleby.
"As we all work together to fight the pandemic, the foundation's resources will provide essential support in communities around the world."
The Caterpillar Foundation is also expanding its existing US Matching Gifts Program to provide a 2:1 match on employee and retiree donations made to eligible nonprofits beginning March 16 through May 1, 2020.