(Bloomberg) -- One of the world's largest private charitable foundation by assets is teaming up with executives at Ken Griffin's hedge fund and market maker to help increase the supply of medical oxygen in India.
The Bill & Melinda Gates Foundation and the partners of Citadel and Citadel Securities are giving $5.5 million to PATH, a Seattle-based public-health nonprofit, the groups said Friday in a statement. The money will be used to help install oxygen-generation plants across India.
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“Our hearts go out to the people of India as they battle this devastating surge in Covid-19,” Citadel founder Griffin said in the statement. “We are proud to continue accelerating impactful solutions to address urgent needs during the pandemic.”
The lack of oxygen and hospital beds are creating desperate circumstances as India fights a surge in Covid cases. The country's total coronavirus infections have risen to 21.5 million, of which about a third were added since mid-April.
Experts have warned the crisis has the potential to worsen in the coming weeks, with one model predicting as many as 1,018,879 deaths by the end of July, quadrupling from the current official count of 234,083.
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