Procter & Gamble and its brands have established a fund with an initial donation of $5 million to help combat racism and promote equality for all people, especially Black Americans, announces the company in a blog post.

The "Take On Race" Fund will help to support a number of well-known and respected organizations, such as the NAACP Legal Defense and Education Fund, United Negro College Fund and YWCA Stand Against Racism. The company says it will also be supporting small organizations and advocacy groups, including those that hold "our elected officials more accountable."

"We look forward to doing more in the weeks, months and years ahead – as part of our longstanding commitment to equality and inclusion for all people here in the U.S. and around the world," the company says in the post.