Brac Bank contributes Tk4.54cr in emergency food support

Brac Bank has allocated a fund of Tk4.54 crore under the special CSR programme to support the Covid affected families.

The bank has recently signed an agreement with Brac, the world's largest NGO, to implement the CSR project, a press release said.

In April 2021, Bangladesh Bank requested all the scheduled banks to allocate a special CSR fund equivalent to 1% of the banks' 2020 profits. The fund is necessitated to support with essential food or equivalent support in cash, or health and hygiene materials, or medicare of suspected Covid patients, or financial support to those who have lost their livelihood and are affected by Covid-19.

Brac will be transferring its CSR fund, on behalf of Brac Bank, through mobile wallet bKash. About 30,267 families across the country will receive emergency food support.

Each family will receive Tk1,500 which will enable them to buy essential food and other emergency necessities for two weeks.

The initiative was announced on Sunday mentioning that the distribution of money will be completed by the second week of August 2021.

Ten districts exposed to high risk of Covid transmission and under strict lockdown will be prioritised in this initiative. 

The districts are: Khulna, Satkhira, Bogura, Magura, Dinajpur, Natore, Joypurhat, Bagerhat, Chuadanga, and Chattogram.

As per a subsequent circular, 50% of the total fund has to be spent in Khulna and Rajshahi divisions and the rest in other divisions. 

Of the total disbursed amount, 50% has to be spent in the rural areas for destitute people and marginalised people and 50% in the urban areas for slum dwellers, destitute people, and marginalized people.

The families to receive the assistance are being identified by the skilled field staff of Brac following a rigorous process. Families with elderly members, pregnant and lactating mothers, persons with disabilities, families dependent on women's earning, ultra-poor households, and those who have not received assistance from other sources will have the priority in this initiative.

Asif Saleh, executive director at Brac, said, "We greatly appreciate this timely support from Brac Bank. It will contribute to our initiative, Dakche Abar Desh, to bring food to the vulnerable households for whom the lockdown continues to prove particularly harsh. I hope more private actors will come forward to collaborate, so we can leverage each other's strengths to help the most vulnerable families during this pandemic who are not receiving support from other sources."

Selim RF Hussain, the managing director and CEO of Brac Bank said, "We are thankful to Bangladesh Bank for their thoughts and guidance on supporting the COVID-affected families. We would also thank Brac for helping us in executing this enormous task, following the regulatory guidelines, to reaching out to the actual needy families. As BRAC Bank believes in 'leaving no one behind', we are firmly committed to standing by the people of our country in any challenging time."

Last year, Brac Bank employees contributed Tk1.73 crore from their August salary as emergency food support to Brac's 'Dakche Amar Desh' initiative.