Home ECONOMY Co-op Bank Donates Sh100 Million Towards C0VID-19 Fight

Co-op Bank Donates Sh100 Million Towards C0VID-19 Fight

by biasharadigest

The Co-operative Bank of Kenya (Co-op Bank) has announced Ksh100 million donation towards the recently formed Emergency Response Fund Committee to be funneled towards the purchase of ventilators which has been identified as a priority.

In a press dispatch, the lender impressed upon other corporates and Kenyans to join hands and support the government in the fight against COVID-19.

“This is a critical moment for our country Kenya. The outbreak of the COVID-19 pandemic is the biggest crisis of our time, particularly in the effort to source critical life-saving medical supplies and equipment especially ventilators that are in short supply globally,” read the statement.

‘Co-op Bank is honoured to support with a key cash contribution of Kshs100 million, preferably to be allocated towards the purchase of critical ventilators,” the statement read in part.

The government has already set up the Jane Karuku led COVID-19 Emergency Response Fund tasked with mobilizing resources for emergency response towards containing the spread, effects and impact of the COVID-19 Pandemic.

The seed capital of the Fund would be drawn from the exchequer, contributions from corporates and well wishers, grants from development partners and multinanational institutions as well as voluntary salary cuts agreed by senior government officials.

The Fund led by Ms Karuku also ropes in Former Safaricom Chief Executive Michael Joseph, Royalmedia Services Managing Director Wachira Waruru and Equity Bank Managing Director Dr James Mwangi.

Other members include Devki Group Chairperson Dr. Narenda Raval, KCB CEO Joshua Oigara, Barclays CEO Jeremy Awori, Kenya Tourism Federation Chairperson Mohammed Hersi, Kenya Association of Manufacturers (KAM) CEO Phyllis Wakiaga, and Kennedy Kihara, the Principal Administrative Secretary in The Office of The President.

Interior Cabinet Secretary Fred Matiang’i and Kakamega governor Wycliffe Oparanya sit on the board as representatives of the government.

See Also>>> Co-op Bank Posts Sh12.3 Billion Profit

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