BRAC to write off Tk 1.0b loans to cyclone victims
Friday, 7 December 2007
BRAC has decided to write off micro-finance loans of around Tk 1.0 billion in the cyclone-devastated areas.
The decision was taken Thursday on the basis of initial assessment of the Sidr affected areas, said a BRAC press release.
BRAC had earlier decided not to collect micro-finance instalments from its borrowers in all cyclone-affected areas of the southern region till March.
However, new loans to affected borrowers will continue to be disbursed to generate economic activities. BRAC is undertaking massive rehabilitation programme in agriculture, fisheries and livestock sectors in the cyclone-devastated region.
BRAC responded to the cyclone disaster by immediately engaging in relief operations and deploying some 2,500 staff for distribution of food and cash relief. Till Friday relief worth more than Tk 120 million have been distributed to 1,84,000 households comprising mainly food rations of rice, lentil, biscuits and milk packets. Cash grants of Tk 30 million have been disbursed.
BRAC has raised a total of Tk 400 million for rehabilitation in the first phase and is planning to raise a further sum of at least Tk 2.0 billion for long term rehabilitation and disaster protection activities.
Thirteen medical teams comprising one medical officer with two para-medics in each team in the affected regions have treated 18,520 patients. Over 550 ponds have been cleaned and disinfected for supplying potable water.
The decision was taken Thursday on the basis of initial assessment of the Sidr affected areas, said a BRAC press release.
BRAC had earlier decided not to collect micro-finance instalments from its borrowers in all cyclone-affected areas of the southern region till March.
However, new loans to affected borrowers will continue to be disbursed to generate economic activities. BRAC is undertaking massive rehabilitation programme in agriculture, fisheries and livestock sectors in the cyclone-devastated region.
BRAC responded to the cyclone disaster by immediately engaging in relief operations and deploying some 2,500 staff for distribution of food and cash relief. Till Friday relief worth more than Tk 120 million have been distributed to 1,84,000 households comprising mainly food rations of rice, lentil, biscuits and milk packets. Cash grants of Tk 30 million have been disbursed.
BRAC has raised a total of Tk 400 million for rehabilitation in the first phase and is planning to raise a further sum of at least Tk 2.0 billion for long term rehabilitation and disaster protection activities.
Thirteen medical teams comprising one medical officer with two para-medics in each team in the affected regions have treated 18,520 patients. Over 550 ponds have been cleaned and disinfected for supplying potable water.