With the 10th anniversary of Hurricane Katrina approaching, Wal-Mart announced a $25 million, five-year commitment to support disaster recovery efforts around the world.

The corporation and its charitable foundation announced the plans Friday in New Orleans, part of more than a week’s worth of observances in the city and along the Gulf Coast.

Wal-Mart said in a news release that the commitment includes an initial $500,000 in grants to nonprofits in the Gulf Coast region.

Details of the plan to fund recovery efforts were discussed at a Friday forum on Katrina. Participants included New Orleans Mayor Mitch Landrieu, former Mississippi Gov. Haley Barbour and New Orleans-born musician Harry Connick Jr. “We all have a role to play, whether it’s before, during or after a disaster strikes,” Wal-Mart President and CEO Doug McMillon said before the forum.