Butterfield Bank has donated $500,000 to the Bermuda Hospitals Charitable Trust’s fundraising campaign.

The charity is hoping to raise $40 million through its Why it Matters campaign, to help transform King Edward VII Memorial into a world-class facility by next year.

“Health and human services is a major focus of Butterfield’s charitable giving efforts, and as the hospital’s new acute care wing will facilitate and enhance the provision of world-class healthcare services for all of us who call Bermuda home, we felt it was important to lend our support to BHCT and the Why it Matters campaign,” said Michael Collins of Butterfield Bank.

BHCT chairman Philip Butterfield thanked the bank for its “substantial gift”.

“Butterfield has a long-standing history of assisting Bermuda and their generosity to the BHCT will benefit the community at large today and for generations to come,” he said.