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Friday, May 17, 2024

JS Bank extends Rs. 110 Million for Immediate COVID-19 Response

To help curb the current COVID-19 outbreak, JS Bank and its partners have contributed a giant relief fund. The entities have collected a fund worth a whopping amount of Rs. 110 million to help fight the cause.

Responding to the unprecedented challenges faced by the nation, JS Bank has established a Rs. 110 Million fund to address the impact of the COVID-19 pandemic. This endeavor is a collaborative fruit in association with key partners of the bank.

Breakdown of the 110 million fund

JS Bank and its partners have equally matched all their support pledges to collect this fund; thereby, rooting this fund in JS Bank’s philanthropic philosophy of joint efforts. This initiative will focus on addressing some of the immediate and long-term issues related to the coronavirus pandemic.

Their strategy is three-tiered and will revolve primarily around providing immediate relief, pandemic control and future response capacity building. The first phase will focus on the provision of rations worth Rs 30 million to food-insecure families. Moreover, the second phase will see the distribution of Personal Protective Equipment (PPE) and donations worth Rs 50 million to medical and other frontline institutions including non-governmental organizations.

Lastly, the third phase of the program will focus on mitigating the long-term health impact of the virus. In accordance with that, JS Bank has planned to invest in medical and technological research and development of this virus. Hence, this phase is dedicated to finding a long-term solution for containing COVID-19.

The focus areas of the phase will include studies on the transmission, evolution and impact of the virus on the Pakistani population. Moreover, JS plans to give special attention to studying the transmission in pregnant women. The overarching aim is to develop a vaccine; improve the specificity and sensitivity of diagnostic kits; and manufacture rapid testing kits.

Read more: Asiamoney Awards 2020: JS Bank wins “Best Bank for SME” award!

Basir Shamsie, President & CEO, JS Bank believes in giving back to society in times of need. He said, “This is a global pandemic and as a responsible corporate entity, it is our duty to stand shoulder to shoulder with the people of Pakistan in this hour of need. We are thankful to the Government of Pakistan, the medical fraternity and all other parties who are playing a critical role in combating this disease. We would also call upon other organizations to come forward and play their role in combating this disease”.

JS Bank has committed to be a catalyst in the progress and prosperity of our nation. Staying true to this commitment, they hope to increase their impact in supporting Pakistan’s cause during these trying times.