Cognizant to provide $40 million in funds for Chennai flood relief

MUMBAI: Cognizant said it would provide $10 million in grants to help the people of Chennai recover from the floods and has set aside an additional $30 million in grants and loans to help employees and business partners.

The southern Indian city has seen the worst rains in more than a century and parts of it have been submerged for more than five days.

The Teaneck, New Jersey headquartered company also plans to sponsor and fund additional donations through the Cognizant Foundation.

Cognizant is the first IT company to announce such large scale funding for relief efforts.

"Chennai is home to tens of thousands of our employees and their families. We are committed to helping with the large challenge of rebuilding the city and addressing the health, safety and housing needs of the residents of Chennai," Gordon Coburn, President at Cognizant, said in a statement.