Hurricane Beryl: NCB launches $300 million disaster relief fund
National Commercial Bank Jamaica Limited (NCBJ) on Friday announced the launch of a $300 million disaster relief fund through its philanthropic arm, NCB Foundation, to support those affected by Hurricane Beryl, the category 4 system which ravaged several parts of the island on Wednesday.
The NCB Foundation, working with other approved charitable organisations, will provide support to individuals and communities impacted by the hurricane. This will primarily assist with the restoration of homes and farmers’ crops in more severely damaged parishes such as St Elizabeth, Hanover and Manchester, according to the institution in a press release.
CEO of NCB Foundation, Sheree Martin explained, “The Fund will be established with an initial pledge of $20 million from NCB. We will also solicit corporate and individual contributions for this vital cause. All donations received will be matched by NCB up to a maximum of $150 million.”
Chairman of NCB Financial Group Limited (NCBFG), Michael Lee-Chin added: “We are deeply concerned for our fellow Jamaicans who have suffered emotional and financial loss due to this hurricane. This Fund is an opportunity to provide a total of $300 million to help restore normalcy to their lives and communities.
“I therefore call on our customers, other corporate entities, the general public and the diaspora to support this initiative so that we can double your donation – for every dollar you give, NCB will match it,” Lee-Chin said.
According to the release, donations may be made via online transfers for the period July 5 to 31, 2024 to the following accounts in the name of NCB Building a Better Jamaica Fund:
JMD – NCB Mandeville Branch – 501556815
USD – NCB 1-7 Knutsford Blvd Branch – 354658984
Further information about the Fund and the partnerships established to administer and distribute relief aid will be made in the days ahead, NCB said.
More than two decades ago, NCB responded to a similar crisis by partnering with United Way of Jamaica to provide over $23 million in relief to some 1,400 households, including farmers who lost thousands of crops due to severe flooding. This followed 11 days of continuous rain, which resulted in extensive flooding island-wide and the loss of nine lives.
