Combating the pandemic: NBP donates Rs 80 million to support over 26,000 households

The National Bank of Pakistan has topped up its earlier contributions towards combating the coronavirus pandemic by donating another Rs80 million to support over 26,000 financially vulnerable households.

The initiative is a part of its on-going CSR plan to respond to the COVID-19 pandemic. This generous donation will support over 26,000 households belonging to the disadvantaged segment of society who have been most affected due to the lockdowns across the country.

This gesture endorses the fact that the NBP as always stood by the nation to promote the well-being of deprived and marginalized segments of society in Pakistan.

To combat the unprecedented situation in the country, NBP has adopted a multi-pronged approach of giving back to deserving members of society as part of its social responsibility. In the first phase of its efforts, NBP collaborated with the Karachi Relief Trust (KRT), a disaster management volunteer group, because of its impeccable track record. NBP's donation of Rs20 million to the KRT helped provide rations to over 6,500 households comprising deserving daily-wage earners and their families.

In the second phase of its CSR COVID19 response plan, NBP, in a unique initiative, donated Rs60 million to five Non-Bank Micro Finance Companies (NBMFCs) for onward donation to their customers across Pakistan whose incomes have been poorly affected by the lockdowns.

These households have been operating their micro and small businesses financed by small loans from the NBMFCs and due to the current situation their incomes have been significantly reduced. 20,000 deserving households across the country will benefit from NBP's donation through the NBMFCs.

NBP's strategic partnership with the NBMFCs is part of a larger initiative under COVID-19 pandemic to play a leadership role and provide a holistic response including financial support to the microfinance sector which serves over seven million households across Pakistan.

The Bank has been supportive of the microfinance sector in the past and will now enhance its focus as part of its inclusive development strategy with the aim of improving financial inclusion in Pakistan.-PR