Wal-Mart plans $2 billion in food donations, grants for hunger relief in next 5 years
By APWednesday, May 12, 2010
Summary Box: Wal-Mart’s $2B hunger-relief plan
THE ANNOUNCEMENT: Wal-Mart and its foundation will spend $2 billion on food donations and grants to hunger relief organizations in the next five years. They’re calling on other companies to help.
THE NEED: A record one in eight Americans now receive food stamps. Some 39.7 million people received food stamps in February, up 22 percent from the same time last year.
THE PLAN: The bulk of the donation will consist of more than 1.1 billion pounds of fruits, vegetables, meats and other items. The company also plans $250 million in grants.
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