The FINANCIAL — A flurry of World AIDS Day and #GivingTuesday activities mark the latest milestone in a two-year, $10 million partnership between Bank of America and (RED). The goal of the partnership, which was announced in January, is to help end mother-to-child transmission of HIV and achieve an AIDS-free generation by supporting the critical work of the Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund), according to Bank of America Corporation.
“Combining private sector scale and resources with nonprofit expertise is one of the most effective ways to address the significant challenges we face,” said Anne Finucane, global chief strategy and marketing officer at Bank of America. “That’s the approach we’ve taken with (RED) and other partners, and the progress we’ve made together in raising both awareness and funds for the fight against AIDS has been truly inspiring,” Finucane added.
These activities and others will result in a donation of more than $3 million by Bank of America to the Global Fund. In total, this year Bank of America will have delivered more than $6 million of its $10 million commitment, with the remainder planned in 2015.
The Bank of America/(RED) partnership formally kicked off with a Super Bowl commercial in February, which featured U2 performing, “Invisible.” For every free download of the song, Bank of America donated $1 to the Global Fund; in total, more than $3 million was generated.
In October, Bank of America, (RED) and Nike+ launched TURN YOUR MILES (RED), an eight-week campaign that empowers walkers, runners and fitness enthusiasts worldwide to make a collective contribution that will save lives and effect change. For each Nike+ Running mile pledged to (RED) on www.nike.com/onestep4red, Bank of America is donating 40 cents to the Global Fund**. As of today, more than 1.2 million miles have been pledged to the cause. The campaign ends on Dec. 7.
“Bank of America has not only committed millions of dollars to the AIDS fight through the Global Fund, but by using their considerable marketing muscle, they’ve been helping (RED) raise awareness about progress made in the fight and the need for the world to keep its foot on the gas to end AIDS once and for all. We’re grateful for their partnership to (RED) and the Global Fund,” said Deborah Dugan, (RED) CEO.
The money raised by (RED) is used to finance Global Fund grants which fight AIDS in eight African countries – Ghana, Kenya, Lesotho, Rwanda, South Africa, Swaziland, Tanzania and Zambia – by providing treatment, testing and prevention and care services, with a focus on ending mother-to-child transmission of HIV and achieving an AIDS-free generation. Of the more than $275 million generated by (RED), 100 percent has gone directly to the Global Fund for on-the-ground services, with no overhead taken out by (RED). (RED) and its partners – Bank of America, Apple, Starbucks and more – are united in a global push to end mother-to-child transmission of the deadly HIV virus, according to Bank of America Corporation.
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