Luis Carlos Sarmiento Angulo Donates $20 Million USD to Help with the Covid-19 Crisis in Colombia

Luis Carlos Sarmiento Angulo, Founder and Chairman of Grupo Aval (NYSE listed: AVAL), announced a $20 million donation to help alleviate the impact of Covid-19 in Colombia.

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Luis Carlos Sarmiento Angulo, Founder and Chairman of Grupo Aval (NYSE listed: AVAL), announced a $20 million donation to help alleviate the impact of Covid-19 in Colombia. (Photo: Business Wire)

The Colombian banker's contribution will be directed towards funding the acquisition of 300,000 diagnostic kits, which have proven critical in helping to identify and stop the spread of the disease, as well as ventilators, among the most crucial medical equipment necessary to treat the respiratory problems that result from the virus.

In addition to the medical aid, Sarmiento Angulo announced that a portion of the donation will go towards providing meals for the most vulnerable segments of the population nationwide, which are struggling to deal with economic impact of the quarantine.

This donation complements the aid programs that many of his businesses have already announced, including, among others: 1) Credit relief programs for Grupo Aval's clients, 2) a $300M USD financing line made available by Grupo Aval to help businesses make payroll and preserve employment, and 3) a $5.5M USD donation by Promigas also focused on addressing Colombia's health and wellness needs in these times of crisis.

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