Banking giant Barclays announced it was making the largest single corporate donation in the UK to children's charity Unicef.
Despite turbulent financial times, the bank said it was donating £5 million and over 15,000 hours of its employees' time to Unicef.
Barclays will work in collaboration with Unicef to provide disadvantaged young people with access to education, vocational training and employment and supporting opportunities for entrepreneurship.
The money will be spent over the next three years on projects in India, Egypt, Kenya, Philippines, Mexico, Botswana, Pakistan and Russia.
Barclays' chairman, Marcus Agius, said: "Despite the difficult current economic conditions, it is vital that business continues to invest in sustainability.
"Helping to develop and empower individuals and communities is vitally important, and it is fundamental to stimulating global economic growth at the same time."
Unicef UK's executive director David Bull said: "This represents the largest single donation that we've received from a corporate partner in the UK.
"By working together, combining Barclays' business and financial expertise with Unicef's global experience in helping young people in excluded communities, this partnership can deliver real, sustainable change for the young people and their families, empowering them to break free of the poverty cycle."
