GABM's $20-Million US Dollar donation towards the Haiti Earthquake Relief Fund
February 10, 2010
The President of Global Association of Billionaires and Millionaires, Mr. Mark Paulsmeier, has revealed that GABM members have raised $20-million US Dollar in relief funding for the Haiti earthquake victims.
The President of Global Association of Billionaires and Millionaires, Mr. Mark Paulsmeier, has revealed that GABM members have raised $20-million US Dollar in relief funding for the Haiti earthquake victims.
The catastrophic earthquake with a magnitude of 7.0 struck Haiti on January 12, and has subsequently demolished approximately 250 000 homes and 230 000 people are feared to be killed. Almost a similar amount in lost of life as in the Asian Tsunami.
Global Association of Billionaires and Millionaires is well known for their financial support to disaster victims all over the world. GABM has previously also donated $10-million US Dollar to the Asian Tsunami victims as well as $10-million US Dollar to the Hurricane Katrina disaster.
Mr. Paulsmeier has said that although GABM is very sympathetic to the plight of disaster victims, a special effort is required from the international community to support the Haitian victims due to the country being one of the poorest nations in the world and due to the lack of infrastructure available to manage the humanitarian crisis that has arisen. The Red Cross estimates as much as 3 million people may be affected by the earthquake.
According to Mr. Lane Hartill, an Africa based Catholic Relief officer, the need for food and medicine is overwhelming and all the international efforts appear to be insufficient in terms of what is really required.
The US Geological Survey says the Haitian area is known for its deadly earthquakes, which is due to Haiti being situated on the Enriquillo-Plantain Garden Fault Zone. The last major earthquake in the region took place in 1946.
How does GABM allocate funds to natural and humanitarian disasters?
GABM’s equity grants towards global natural and humanitarian disasters are funded from the funds generated by the annual GABM associate membership fees.
By making these donations GABM also believe it will serve as an encouragement to other like-minded and prominent organizations to become good corporate citizens, as well as to support our ‘Let’s Do More Initiative’.
Depending on the nature and the geographical region of a natural or humanitarian disaster, GABM will donate funds to organizations like the Red Cross, United Nations and others to support large scale relief efforts. GABM also in certain cases allocate bank debit cards to victims directly to enable them to acquire emergency food, fresh water, blankets and tent shelters.
How does GABM allocate funds to natural and humanitarian disasters?
GABM’s equity grants towards global natural and humanitarian disasters are funded from the funds generated by the annual GABM associate membership fees.
By making these donations GABM also believe it will serve as an encouragement to other like-minded and prominent organizations to become good corporate citizens, as well as to support our ‘Let’s Do More Initiative’.
Depending on the nature and the geographical region of a natural or humanitarian disaster, GABM will donate funds to organizations like the Red Cross, United Nations and others to support large scale relief efforts. GABM also in certain cases allocate bank debit cards to victims directly to enable them to acquire emergency food, fresh water, blankets and tent shelters.
