The City Bank
Bangladesh was hit hard by the Covid-19 pandemic. Following safety measures is a luxury if these stop people going to work, especially in a country where the poverty rate is about 20%. The City Bank, under the leadership of managing director and chief executive Mashrur Arefin, stepped up to help the country face this new threat.
The lender has supplied 2 million Bangladeshis with a month’s supply of consumables, while its branches acted as relief centres in each district across the country. It also donated assisted-breathing equipment and ambulances to hospitals to support Covid-19 patients. Each employee of the bank also lent a hand, donating the equivalent of two days’ salary to support those affected by the coronavirus. The International Finance Corporation provided The City Bank with $30 million from its $8 billion Covid-19 fast-track financing facility to help small and medium-sized enterprises and corporates.
But Bangladesh has many other issues to face as well as Covid-19, including education, health, and support for underprivileged women and children.
The City Bank has partnered with the Dhaka-based research school North South University (NSU) to support women entrepreneurship through its City Alo Certification Program, a platform that aims to blend technical knowledge and other relevant skills for launching, managing and promoting businesses.
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