Tencent launches $100M fund to fight COVID-19

Tencent today revealed the launch of the Global Anti-Pandemic Fund , a $100 million effort created to assist suppress the disastrous spread of COVID-19. The news follows the launch of $100 million funds from fellow tech giants Netflix and Facebook .

In the case of the Shenzhen-based corporation, preliminary financing will go to extremely essential and useful health supply contributions, consisting of protective equipment and other items for health centers and health care very first responders.

Tencent keeps in mind that the effort is just the current from the business. It formerly established an Anti-Pandemic fund to support health care employees in its native China, with around $211 million designated as part of that effort.

“ COVID-19 is considerably affecting individuals worldwide, ” Tencent President Martin Lau stated in a news release. “ We are facing this difficulty together and Tencent is dedicated to supporting the global emergency situation action. Based upon the experience in China and feedback gathered from health centers worldwide, we acknowledge there is an immediate requirement for PPEs and other medical materials, especially at the start of the pandemic, when conventional supply channels can not fulfill the unexpected rise in requirement.”

For now, the most relevant contributions are definitely health care products, as areas all over the world experience mass lack of important devices like ventilators and masks.