Tk 4b Citibank loan for rehab operation in Sidr-hit areas
Thursday, 27 December 2007
FE Report
Citibank NA, sister concern of leading global financial services company Citigroup, will disburse soft loan Tk4.0 billion in the devastating SIDR hit areas through its partner NGOs as part of its rehabilitation programme.
"We have already disbursed Tk1.0 billion and will also disburse Tk4.0 billion in the SIDR hit areas through our partner NGOs," Mamun Rashid, managing director and Citi country officer-Bangladesh, of Citibank NA said at press conference in the city Wednesday.
Rashid Maksud, director, Omar Faruque, director for SIDR relief operation, Mesbah Ahamed, leader of relief operating voluntary team, of Citibank NA, among others, were present at the press conference.
Mamun Rashid said disbursement of soft loan aimed at helping flood victims to mitigate the impact upon them by SIDR.
Apart from this, he said Citi Foundation, the philanthropic arm of the Citigroup, has donated $50,000 to support the relief work of Bangladesh Red Crescent Society.
The employees of Citibank have made monetary contribution, which was matched equally by Citibank, to donate Tk1.0 million, to the Chief Adviser's Relief and Welfare Fund on December 01, he said.
Mamun said Citibank NA will help rebuilding educational institutions in two SIDR hit districts-Pirojpur and Bagerhat.
As part of Citibank NA's SIDR relief efforts, he said relief materials were distributed from the contributions of Citi employees and clients, in collaboration with Uddipon, a leading local NGO.
A seven member volunteer team of Citibank started their journey to SIDR hit areas on December 14 and distributed relief materials in two villages- - Paarerhat and hankarpasha-- in Pirojpur.
The volunteers distributed over 7,500 pieces of clothes, including winter clothes, 2000 bottles of drinking water and kitchen utensils.
The volunteer team then also distributed warm clothes among the children at the Safe Center Safe Center of Uddipon (a center opened for the children to help them overcome the trauma caused by such a big disaster at such a young age) at Paarerhat.
The Citi volunteers along with the Uddipon team also coordinated with the local administration to ensure a fair distribution of the relief materials.
Citigroup does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services including consumer banking and credit, corporate and investment banking, securities brokerage, wealth management.
Citibank NA, sister concern of leading global financial services company Citigroup, will disburse soft loan Tk4.0 billion in the devastating SIDR hit areas through its partner NGOs as part of its rehabilitation programme.
"We have already disbursed Tk1.0 billion and will also disburse Tk4.0 billion in the SIDR hit areas through our partner NGOs," Mamun Rashid, managing director and Citi country officer-Bangladesh, of Citibank NA said at press conference in the city Wednesday.
Rashid Maksud, director, Omar Faruque, director for SIDR relief operation, Mesbah Ahamed, leader of relief operating voluntary team, of Citibank NA, among others, were present at the press conference.
Mamun Rashid said disbursement of soft loan aimed at helping flood victims to mitigate the impact upon them by SIDR.
Apart from this, he said Citi Foundation, the philanthropic arm of the Citigroup, has donated $50,000 to support the relief work of Bangladesh Red Crescent Society.
The employees of Citibank have made monetary contribution, which was matched equally by Citibank, to donate Tk1.0 million, to the Chief Adviser's Relief and Welfare Fund on December 01, he said.
Mamun said Citibank NA will help rebuilding educational institutions in two SIDR hit districts-Pirojpur and Bagerhat.
As part of Citibank NA's SIDR relief efforts, he said relief materials were distributed from the contributions of Citi employees and clients, in collaboration with Uddipon, a leading local NGO.
A seven member volunteer team of Citibank started their journey to SIDR hit areas on December 14 and distributed relief materials in two villages- - Paarerhat and hankarpasha-- in Pirojpur.
The volunteers distributed over 7,500 pieces of clothes, including winter clothes, 2000 bottles of drinking water and kitchen utensils.
The volunteer team then also distributed warm clothes among the children at the Safe Center Safe Center of Uddipon (a center opened for the children to help them overcome the trauma caused by such a big disaster at such a young age) at Paarerhat.
The Citi volunteers along with the Uddipon team also coordinated with the local administration to ensure a fair distribution of the relief materials.
Citigroup does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services including consumer banking and credit, corporate and investment banking, securities brokerage, wealth management.