Russia’s Sberbank Will Allocate Over $40Mln for Fight Against COVID-19 Pandemic

Russia’s largest commercial bank Sberbank said on Thursday in would allocate more than 3 billion rubles ($40.5 million) to combat the coronavirus pandemic, including the creation and production of vaccines and drugs against the virus, as well as creating conditions for their accessibility to Russians.

“Amid the complicated situation the entire Russian society has faced, Sberbank is allocating over RUB3 bln – including donations given by the bank’s top managers and employees – to fight against the pandemic, develop and produce vaccines and drugs against COVID-19, and make them available to citizens of Russia,” the bank said.

In addition, the funds will be used to support regional healthcare organizations, to supply medical equipment and personal protective equipment, as well as to build, equip and commission infectious diseases hospital in the city of Tulun, which was hit by the flood last summer.

“In a push to develop vaccines and drugs against the novel coronavirus, funds will be channeled into N.F. Gamaleya Scientific Research Institute of Epidemiology and Microbiology, the Vector State Research Center of Virology and Biotechnology, and other research organizations with supervision from the Healthcare Ministry of the Russian Federation,” the bank said.

Top managers of the bank decided to donate their April salaries to the effort and urged all employees, shareholders, customers and partners of Sberbank to contribute as much as possible to this project aimed at combating the disease, it said.