Bank of America Corp. will give $1 million and the Walmart Foundation $600,000 to help victims of the earthquake that hit Haiti Tuesday, the company and the foundation said Wednesday.
A 7.0-magnitude earthquake struck just west of Haiti’s capital, Port-au-Prince, and it is feared thousands have died. President Barack Obama has promised an all-out rescue and humanitarian effort.
The bank said it also will match any donations its employees make and will not limit its total gift.
Half of Bank of America’s $1 million commitment covers a grant to the American Red Cross for the Haitian Relief and Development Fund. The other $500,000 will cover long-term recovery, including restoring basic medical services and rebuilding homes and schools.
Bank of America is based in Charlotte, N.C.
The Walmart Foundation said Wednesday plans to give $500,000 in cash plus food kits worth $100,000, both through the American Red Cross.
The foundation also launched a Web site at walmartstores.com/haiti, where customers and employees can donate to nonprofits that are helping Haitian victims of the natural disaster.
The philanthropic organization said that in September 2008 it donated more than $100,000 to relief efforts for Haitians who were hurt that summer by hurricanes Gustav and Ike, which killed hundreds of people.