StanChart partners with Kumudini, City Group to materialise relief initiative

Standard Chartered Bangladesh has partnered with Kumudini Welfare Trust and the City Group to provide essential food supports for 25,000 people in Mirzapur of Tangail district.

As one of the oldest financial institutions in the country, Standard Chartered has already launched several initiatives to stand beside the people of Bangladesh in time of the Covid-19 pandemic.

This initiative will be the bank's first assistance programme targeting semi-urban and rural communities, said a media statement issued on Tuesday.  

Naser Ezaz Bijoy, CEO of Standard Chartered Bangladesh, said, "For over 115 years, we as a bank have never closed our doors to the communities we serve in Bangladesh. We are fully focused on supporting Bangladesh and its people rise above the Covid-19 challenges through community initiatives that deliver rapid emergency assistance to vulnerable communities and support economic recovery."

"I would like to express my sincerest gratitude to Kumudini Welfare Trust and City Group for partnering with us. We hope to be able to announce more Covid-19 support measures in the near future," he added.

Rajiv Prasad Shaha, chairman and managing director of Kumudini said, "It gives us great pleasure to partner with Standard Chartered Bank to provide essential food supports to the poor and needy families affected by the pandemic.  We are reaching out to the community to address their medical needs during this difficult time and thank Standard Chartered for their support."

The Bank is also collaborating with Brac to deliver support packages to 25,000 people from 5000 low-income families, residing in locked-down urban areas.

The Bank is supporting daily treatment cost of 120 Covid-19 patients at the Sajida Hospital Narayanganj, which has been converted into a dedicated Covid-19 treatment center.

Standard Chartered has contributed $300,000 to the Red Cross for the provision of urgent medical support and $1.3 million to Unicef for the immediate protection and education of vulnerable children in Bangladesh.

Standard Chartered has announced a broad range of support measures for its retail customers and businesses, including loan repayment holidays, fee waivers or cancellations and loan extension facilities. It has initiated a $1 billion global financing programme for companies that provide goods and services to help the fight against Covid-19. It has also launched a $50 million fund aiding communities affected by the pandemic across its global footprint, including Bangladesh.