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Coronavirus 12 Jun 2020

Infographic: How BBVA disbursed its €35 million COVID-19 relief donation

BBVA has now earmarked the €35 million donation it committed to support COVID-19 relief. The lion’s share of the funds (81 percent) were allocated to defend against the virus’ initial hit in medical centers and hospitals.

This item, earmarked for the purchase of medical equipment and supplies, has covered until now the costs for 2,478 ventilators; 400 oxygenators; 1,200 tests; 983.119 face masks; 275.272 PPE or protective kit; 95,785 protective eyewear or face shields; 533,250 gloves; 379,327 units of other medical supplies; and 775 units of electronic equipment for patients.

This material has been distributed to 265 hospitals across the BBVA footprint, and always in compliance with instructions given by local health authorities.

The second batch of coronavirus relief funds contributed by the bank was used to help vulnerable groups (11 percent of the donation). So far, the bank provided support to 171 NGOs, and this portion of the donation has benefited 663.485 people, primarily to cover basic physical needs like food, in addition to emotional and psychological support, and training.

Finally, BBVA also dedicated 8 percent of the total donation to further advance COVID-19 research. Of note within this disbursement is the support provided by the BBVA Foundation to 20 scientific research projects.

At the outset of the pandemic, BBVA Group Executive Chairman Carlos Torres Vila explained  that the bank must “step up” and use everything in its power “to save lives, alleviate the economic impact, and help others overcome these difficult times”.

This data corresponds to the latest data available, from May 31, 2020 and could see some modifications given that the funds are being administered by each recipient country according to the status of the crisis and local needs.

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