PepsiCo to offer $45m aid to combat impact of Covid-19 pandemic

Food and beverage giant PepsiCo and The PepsiCo Foundation have agreed to provide financial aid exceeding $45m to help people and communities most affected by the coronavirus (Covid-19) pandemic.

As part of this initiative, the company will provide funding to purchase protective gear for healthcare workers, as well as testing and screening services.

The company will also be providing more than 50 million nutritious meals to at-risk populations by supporting food banks and other partners worldwide.

PepsiCo chairman and CEO Ramon Laguarta said: “This unprecedented crisis requires all hands on deck, and companies have a big role to play in directing critical resources to the most vulnerable.

“Food is at the heart of what PepsiCo does, and we believe the best way we can support communities during this difficult time is by leveraging our expertise and capabilities, along with help from our partners, to bring food to our neighbours who need it most.

“We’re activating our global resources to do this now and provide other essential relief, and we will continue to do so as the world unites to tackle Covid-19.”

The company is allocating $45m to support the most affected communities.

Out of $45m, PepsiCo will be spending $15.8m in North America, which is said to be most affected and recorded the most number of Covid-19 cases in the world.

The company will be providing $7.7m to Europe as all the countries in the region are in lockdown.

For the Latin American region, PepsiCo will be offering $6.5m to help them to prepare for the expected increased Covid-19 impact.

Approximately $7.2m will be provided for Africa, the Middle East and South Asia as these regions need unique response due to its population and economic conditions.

PepsiCo will be offering $3.3m for the Asia Pacific, Australia, New Zealand and China as these regions have been devastated by Covid-19 longer than any other part of the world.

Additionally, the company has announced that it will be investing in global partnerships that provide scale solutions.