It has committed an initial amount of Rs 40 crore this year for Covid-19 support and will increase this commitment over the next 2 quarters, based on need, the home financier said in a release on Sunday. The funding was part of its Corporate Social Responsibility (CSR) initiatives.
Last financial year, HDFC contributed Rs 80 core for the same cause.
The Covid-19 initiatives are being undertaken through its philanthropic arm the H T Parekh Foundation, HDFC said.
“The severity of the second wave and the resultant health crisis is different this time around,” said Deepak Parekh, Chairman, HDFC LTD. It is critical that strike a balance to address the immediate needs for healthcare and longer term needs for supporting livelihoods and building a more resilient health infrastructure in the country.”
The housing finance company is supporting procurement and distribution of 80 ICU ventilators for critical patients in hospitals across Karnataka, Gujarat, Maharashtra and Tamil Nadu.
HDFC also set up at least 10 oxygen enrichment plants amid growing demand for the lifeline across in half a dozen states.
HDFC facilitated expansion of existing hospital bed capacity for at least 5 COVID-19 extension hospitals with a 50-100 incremental bed capacity.
“We are providing humanitarian support to the most vulnerable groups including children, migrants, senior citizens, critically ill patients and persons with disabilities, to ensure they are protected,” said Parekh.
The lender is supporting 15,000 healthcare workers across New Delhi, Ahmedabad, Mumbai and Kolkata with nutritious meals as they work tirelessly at the frontline. It is aiming to reach at least 25,000 workers over the next few months.
In addition, HDFC is also responding to on ground, local needs by providing essential medical equipment, ambulances and medical consumables in hard to reach geographies in the North East and rural districts.
We have supported 75,000 individuals and children across Bihar, Chhattisgarh, Jharkhand, Uttar Pradesh and Madhya Pradesh and aim to double the scale of this effort through the course of the year, HDFC said.