NAIROBI, Kenya, May 14 – Absa Bank Kenya PLC has announced a new funding line for learning institutions and parents who need to obtain the necessary equipment to enable their children access lessons on the available e-learning platforms.
The COVID-19 pandemic has led to suspension of physical learning requiring schools to find alternative means to continue teaching. The government has recommended adoption of virtual learning, but this has been hindered by lack of the supporting infrastructure including laptops, tablets or smartphones for teachers and students.
Through this new initiative, Absa Bank will support schools to procure e-learning infrastructure including the hardware and software required to enable e-learning during this period. In addition, the bank will provide finances for parents who may need to purchase laptops for their school-going children.
While making the announcement, Absa Bank Kenya Managing Director Jeremy Awori said, “the world is faced with one of the biggest crises of our time and as Kenyans, businesses and individuals alike, we have a role to play in minimizing the economic and social impact of the COVID-19 pandemic on our country. We understand that you might be going through a tough time and we would like to continue working with you to support your institution’s activities during and beyond these extraordinary times”.
The bank has also reviewed its credit terms and is offering various relief options to cushion schools against the financial difficulties presented by COVID-19.
“Due to the prevailing economic conditions, some of our customers, through no fault of their own, are struggling to meet their financial obligations. We would like to continue working with them through our various payment relief options as well as the reviewed credit opportunities to provide the much-needed continuity during this period,” Awori added.