NAIROBI, Kenya, Jun 10 – The I&M Bank Foundation has set aside a total of Sh50 million, to help cushion vulnerable communities from the effects of the COVID-19 pandemic.
Following the measures put in place by the government to curb the spread of COVID-19, the donations will help cushion vulnerable families from the economic effects prompted by this outbreak.
The interventions include Sh25 million which will support the government’s effort in the supply of healthcare products and medical equipment, to mitigate against COVID-19 pandemic impact.
Through partnership with different I&M Bank customers and like-minded organizations, the Foundation will also donate Sh25 million in-kind for food packages and hand sanitization stations.
The relief food support will include a feeding programme for over 2,500 families in Kibera, Mathare, Kangemi, Tatu City and Ngewe, in partnership with its sister company – GA Insurance and the Shamas Rugby Foundation.
Other partners including Kenya National Chamber of Commerce and Industry (KNCCI) Mombasa Branch, will provide food donations, that will be distributed through the Kenya Red Cross Society to different sub counties in Mombasa.
The initiative mirrors the “Stand with Kenya” campaign led by Zehra Jackie Jan Mohamed, CEO, Care Packages, Stand with Kenya Initiative, to provide food donations to vulnerable communities in Nairobi and to Kenyan athletes whose source of livelihood is gravely impacted by the COVID-19 pandemic.
In addition, part of the funding will be channeled to the Kenya Community Development Foundation (KCDF) to set up 140 hand-washing stations in 12 counties across the country.
The hand-washing stations will be manned by a community volunteers working with KCDF.
The I&M Bank Foundation will also provide funding for KCDF to work with 13 community-based organizations to provide food packages for 1,300 vulnerable households in informal settlements in 10 counties across the country.
“The I&M Bank Foundation looks to improve the quality of life in our society; and by forming partnerships with like-minded institutions and our customers, we are able to push our shared value agenda in our communities that looks to promote sustainable livelihoods,” SBR Shah, I&M Bank Foundation Chairperson, noted.
“The impact of the COVID-19 outbreak is quite heart-breaking and as organizations, we are called upon to demonstrate collective humanity, by supporting the vulnerable members of our community through acts of mercy.
We shall continue to support the community as need arises so as to help the Government combat the effects of this health crisis that we are facing; and I call upon more members of the private sector to support where possible as this should be a concerted effort.” he added
The funding drive falls under the I&M Bank Foundation’s strategic theme on Enabling Giving that supports a wide range of community-based initiatives that respond to local grass root needs and disaster response.
In addition to supporting the community, I&M Bank has also set up relief measures aimed at cushioning its customers from the effects of the pandemic such as: repayment holidays for a period ranging from 3 to 6 months for loan facilities and credit cards payment and extension of loan tenors on request by customer.
Other measures include additional funding for COVID-19 affected businesses to tide over the pandemic situation; waived charges on all mobile money transfers to mobile wallets like MPESA and Airtel Money, to enable customers to load mobile money from their I&M Bank accounts; funds transfer from mobile money to I&M Bank accounts is also free of charge and Pesalink transactions are free of charge for a period of 90 days.
The I&M Group will continue to monitor the effects of the pandemic and spearhead interventions that demonstrate collective humanity by supporting vulnerable persons in society and its customers during the COVID-19 crisis.