WILMINGTON, Del. – U.S. Senator Chris Coons (D-Del.), chair of the Senate Foreign Relations Subcommittee on African Affairs, praised a new partnership between Bank of America, rock group U2, and global HIV/AIDS fundraising organization (RED) announced at the World Economic Forum in Davos, Switzerland on Thursday. The bank, which employs 7,000 in Delaware, announced a multi-pronged commitment to the global fight against HIV/AIDS, including:

  • A $10 million donation to the Global Fund to Fight AIDS, Tuberculosis and Malaria.
  • The donation of $1 to the Global Fund for each free download (up to $2 million total) of a new U2 song, “Invisible” to be unveiled in a commercial during the Super Bowl on February 2.
  • A campaign to encourage Bank of America customers and employees to join the fight. 

“Stopping the spread of HIV/AIDS and its destructive impact on families, communities and even countries is a global health priority,” Senator Coons said. “Without the funding to set up and run clinics, train medical personnel, and educate at-risk populations about prevention, the tremendous progress made by the Global Fund and its partners over the last decade would not have been possible. Bank of America’s commitment to the global effort to eradicate mother-to-child transmission of HIV by 2015 can and will make a difference in the lives of millions of Africans.” 

Bono, the lead singer of U2, said, "Bank of America coming on as a (RED) partner to help the Global Fund's efforts to eliminate AIDS is great news.  It's the kind of game-changing influence that will not just deliver millions of dollars but raise consciousness and keep public pressure on putting an end to this devastating pandemic which has already taken the lives of 35 million people.  And just in... the bank's commitment of $10 million has resulted in the Gates Foundation, SAP and Africa's Motsepe Family matching for a total of $22 million. Incredible." 

(RED) funds are fighting AIDS in eight African countries – Ghana, Kenya, Lesotho, Rwanda, South Africa, Swaziland, Tanzania, and Zambia – and are used to support HIV/AIDS grants which provide 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 $240 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).

More from Bank of America here:

http://newsroom.bankofamerica.com/press-releases/corporate-philanthropy/red-u2-and-bank-america-partner-fight-aids