Boston Mayor Thomas Menino announced that the One Fund Boston has raised $20 million in its first week since the marathon bombing on April 15.
In speaking during a news conference, Menino said more than 50,000 people had donated to the fund. Of those gifts, nearly $5 million were online donations from around the world.
"This past week, our state triumphed over terror and showed the world the meaning of 'Boston Strong,'" Menino said.
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Menino thanked donors for their "unbelievable outpouring and generosity," saying the fund would "help the families most affected by Monday's tragic event."
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Three people died in last Monday's bombing near the finish line of the Boston Marathon. An MIT police officer was shot April 18 night by the suspects.
Massachusetts Gov. Deval Patrick, Menino and the fund's administrator Kenneth Feinberg shared details about the One Fund, which was initially launched with a $1 million donation from Boston-based financial services firm John Hancock.
Feinberg managed the 9/11 Victim Compensation Fund.
The first payments are expected to be distributed June 30.
A number of groups have announced donations to the fund, including $646,500 from Major League Baseball and its players association.