Blackstone Pledges $1 Million to Support Novel Coronavirus Relief Efforts
The donation will support Chinese not-for-profit organization One Foundation in its efforts to bring relief and vital medical supplies to more than 30 communities in China
New York, February 12, 2020 – The Blackstone Charitable Foundation today announced a commitment of USD $1 million to support healthcare and counseling services for communities in China affected by the recent 2019 novel coronavirus (2019-nCoV) outbreak. The funding will support the efforts of One Foundation, an independent non-profit in China founded by actor and producer Jet Li in 2007, and other non-profit partners, to accelerate their efforts in helping people across 31 provinces and cities in China.
The One Foundation was among the first to implement a response program focused on providing critical medical supplies such as masks and other protective gear for front-line medical personnel; test kits for patient diagnosis; medical equipment and supplies; and community epidemic prevention consultation.
Stephen A. Schwarzman, Chairman, CEO & Co-Founder of Blackstone, said: “Our deepest sympathies are with the people of China as they battle this epidemic, which has had a devastating impact on human life and a serious impact on China’s economy. It’s important for all of us to support our friends in China during this challenging time and we’re committed to doing our part as a firm.”
Jet Li, Founder, One Foundation, said: “We appreciate Blackstone joining us in the fight to combat this epidemic. Containment and treatment of the virus is critical and frontline medical practitioners and volunteers working in high-risk areas desperately need continued support.”
Since the outbreak, One Foundation has worked with local community organizations in 16 Hubei cities and recently completed its 13th delivery including millions of masks and gloves and thousands of barrels of disinfectants, detection kits, goggles, oximeters, air disinfecting machines, breathing machines, and ECG monitors – more than half of which were distributed to frontline hospitals. In addition, more than 2,000 volunteers and staff are on the ground leading daily disinfection and prevention training in nine provinces, reaching more than 250,000 people. Daily updates in Chinese are available on the One Foundation website.
About the Blackstone Charitable Foundation
The Blackstone Charitable Foundation was founded at the time of Blackstone’s IPO in 2007 with substantial commitments from the Firm’s employees. Influenced by the enterprising heritage of the firm and its founders, The Blackstone Charitable Foundation is directing its resources and applying the intellectual capital of the firm to foster entrepreneurship in areas nationwide and globally. Through its investment expertise across several asset classes and geographies, Blackstone has a unique perspective on the global economy and a heightened understanding of how entrepreneurial activity is often the crucial catalyst in the growth of successful businesses, industries and communities. For more information, see http://www.blackstone.com/foundation.
About One Foundation
One Foundation is an innovative philanthropic organization which is also China’s first non-government public fundraising foundation. With our vision, One Foundation strives to provide a professional and transparent philanthropic platform focusing on three areas: disaster relief, children’s welfare and development, and philanthropic innovation.
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