The Co-operative Bank of Kenya (Co-op Bank) has announced Ksh100 million donation towards the recently formed Emergency Response Fund Committee for purchase of ventilators in the fight against coronavirus (COVID-19).
In a statement, the bank appealed to other corporate institutions and Kenyans of goodwill to join hands and support the government in the fight against COVID-19.
“This is a critical moment for our country Kenya. The outbreak of the COVID-19 pandemic is the biggest crisis of our time, particularly in the effort to source critical life-saving medical supplies and equipment especially ventilators that are in short supply globally. Co-op Bank is honoured to support with a key CASH contribution of Kshs.100 million, preferably to be allocated towards purchase of critical ventilators,” the statement read in part.
Read: Co-op Bank Shares Projected To Hit Ksh21.40, A 41PC Upward Growth
On March 31, President Uhuru Kenyatta directed the National Treasury to set up the COVID-19 Emergency Response Fund which would be used to mobilize resources for emergency response towards containing the spread, effects and impact of the COVID-19 Pandemic.
The seed capital of the Fund would be drawn from the Exchequer, including the voluntary salary-cuts undertaken by the senior ranks of the Executive, Judiciary, Legislature and County Governments.
The Exchequer contributions shall be supplemented by donations by Kenyan individuals and corporate entities, grants from development partners and multinational institutions, and such other gifts, subscriptions and contributions as the Fund may receive from time to time.
The Fund shall be governed by a Board led by Ms Jane W. Karuku as the chairperson and members including Mr Michael Joseph and Dr James Mwanqi.
Other members include Dr Narenda Raval, Mr Joshua Oigara, Mr Jeremy Awori, Mr Wachira Waruru, Mr Mohammed Hersi, Ms Phyllis Wakiaqa and Mr Kennedy W. Kihara.
Read: COVID-19: Buy Ventilators With Ksh10 Billion BBI Money, Kenyans Tell Uhuru
The President has further designated Interior Fred Matiang’i and Kakamega governor Wycliffe Oparanya as the joint representatives of the Government of the Republic of Kenya.
“The Government of Kenya calls upon all Kenyans, Corporate Entities both domestic and multinational, as well as our international development partners to support the national initiative. By doing so, Kenya will be better able to successfully contain the spread, effects and impact of the COVID-19 Pandemic on our citizens, and particularly the most vulnerable members of society,” read a statement from Statehouse.
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