London, 20 June, 2011 - J.P. Morgan has today announced that it will donate £1.5 million to the GAVI Alliance, a public-private partnership dedicated to saving children's lives and protecting people's health by increasing access to immunisation in the world's poorest countries. The firm's donation will be matched by the U.K. government's newly created matching fund bringing the total to £3 million.
"We are pleased to play our part in funding this global initiative, which is vital to the health of millions of children around the world," said Daniel Pinto, J.P. Morgan's CEO of Europe, the Middle East and Africa. "This effort is a great example of private and public sector partnership and we applaud the Prime Minister, Chancellor Osborne, Development Secretary Mitchell, Bill Gates and the countless workers who have helped create awareness for such a critical issue."
J.P. Morgan remains committed to social entrepreneurs and underserved communities across the globe even in the most challenging times. Last year alone, the firm pledged more than $150 million through grants and sponsorships to thousands of not-for-profit organisations in more than 25 countries.
Chancellor George Osborne said of J.P. Morgan's donation: "It is to their credit that J.P. Morgan are joining the fight to immunise children against preventable diseases and I'm delighted that they are making this contribution to GAVI. It is a great example of a public private partnership that will literally save millions of lives. The overwhelming support to GAVI at the conference on 13 June illustrates the world's commitment to tackling vaccine-preventable disease and is a massive vote of confidence for GAVI's approach."
"We are delighted to welcome J.P. Morgan as a Matching Fund partner," said GAVI Alliance Board Chair Dagfinn Hoybraten. "We recognise J.P. Morgan's strong commitment to social finance. This generous investment will help us fulfill our mission to save children's lives and protect people's health by increasing access to immunisation in developing countries. On behalf of the children we will vaccinate with these resources, our thanks go out to the people of J.P. Morgan."
Created in 2000 as the Global Alliance for Vaccines and Immunisation, GAVI brings together developing country and donor governments, the World Health Organization, UNICEF, the World Bank, the vaccine industry in both industrialised and developing countries, research and technical agencies, civil society, the Bill & Melinda Gates Foundation and other private philanthropists.
About J.P. Morgan
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and WaMu brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com