Wal-Mart (WMT) Commits $2 Billion For Food Banks

Wal-Mart WMT undertook a major philanthropic initiative by declaring that it will provide $2 billion worth food and money to the food banks around the country over the next 5 years. The company is expected to give away 1.1 billion pounds of food and $250 million in funds for improving the infrastructure of food banks. Hunger has become a major issue; with surveys indicating that 1 in every 8 Americans seeks food banks. The people using food banks in a year have seen an increase of 46 percent since 2006 to 37 million.