Boeing announced Wednesday it would give $100 million to communities and families affected by two crashes on its 737 MAX planes that claimed 346 lives.

(File photo: VCG)

Describing the sum as an "initial investment" over multiple years, Boeing said it would work with local governments and non-profit organizations to provide living expenses and boost economic development in regions affected by crashes of planes operated by Ethiopian Airlines and Lion Air. 

Boeing faces numerous lawsuits filed by the victims' families.