3M donates $20m toward coronavirus pandemic fight

3M (NYSE:MMM) will donate $20 million to groups supporting frontline healthcare workers, vulnerable populations disproportionately affected by the virus and medical research initiatives.

“Since the outbreak began, 3M has addressed the COVID-19 pandemic from all angles and across all stakeholders, and this includes supporting our community partners around the world,” CEO Mike Roman said in a news release yesterday. “It’s important that 3M holds true to its core values during this pandemic by supporting our communities and improving lives. Throughout this global crisis, we will continue to look for ways to help in the fight against COVID-19.”

3M’s donations include:

  • $10 million toward the newly formed COVID-19 Fund for Community Health, with the money providing community health centers with direct financial aid to support healthcare workers;
  • $5 million toward United Way’s COVID-19 Community Response and Recovery Fund;
  • $5 million for COVID-19 research and development initiatives, with $2 million going toward the University of Minnesota in 3M’s home state.

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