(RED), U2 and Bank of America Partner to Fight AIDS
(RED), rock group U2 and Bank of America announced a partnership that will generate more than US$10 million to fight AIDS.
The partnership will kick off with a commercial during the Super Bowl in the U.S. on 2 February that will feature U2 performing a new song, “Invisible.” The song will be available as a limited edition release on iTunes for free download during the game and for the following 24 hours. For every download during that timeframe, Bank of America will donate US$1, up to US$2 million total, to the Global Fund to Fight AIDS, Tuberculosis and Malaria, which supports life-saving HIV/AIDS treatment, testing and prevention services to tens of millions of people in the world’s poorest countries.
(RED) has already generated more than US$240 million for the Global Fund since being founded in 2006 by U2 lead singer Bono and Bobby Shriver in order to drive corporate donations to the fight against AIDS. The additional funding from Bank of America will help (RED) surpass a quarter billion dollars raised.
Bono 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.”
Key to the success of this initiative will be raising awareness among Bank of America’s vast customer base and more than 240,000 employees, and providing opportunities for them to take action at this critical moment in the global effort to eradicate mother-to-child transmission of HIV by 2015. Bank of America serves one in two U.S. households with a network of approximately 5,100 retail banking offices and 16,300 ATMs, has one of the most visited websites in the world, and more than 30 million online banking users and 14 million mobile users.
Brian Moynihan, CEO, Bank of America, said, “Just as we dedicate all of our resources to serving customers and clients in the U.S. and around the world, we can bring these capabilities to (RED) and the global health community in the fight against AIDS. Most importantly, we’re encouraging our customers and employees to join the fight.”
(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). (RED) and its partners – from Bank of America, to Starbucks, Apple and more – are united in a global push to end mother-to-child transmission of the deadly HIV virus by 2015, in accordance with the UN Millennium Development Goals.
Mark Dybul, Executive Director of the Global Fund to Fight AIDS, Tuberculosis and Malaria, said, “We’d like to thank Bank of America, (RED) and U2 for this innovative partnership to deliver much-needed funds and awareness to our fight to eliminate AIDS. This partnership will have a tremendous impact over the coming years.”