StanChart, Sajida Foundation to support urban extreme poor

Standard Chartered and Sajida Foundation have jointly launched a programme to support the extreme poor in urban areas.

The first phase of this initiative will support 300 beneficiaries from Dhaka, Chattogram and Chandpur, who have lost their livelihoods due to the impact of Covid-19, said a press release yesterday.

A recent survey by Sajida Foundation shows that 77.5 per cent of the urban extreme poor population have either lost their jobs or are working with reduced income due to the impact of the Covid-19 pandemic.

Of them, 41.9 per cent will not be able to afford the cost of treatment if they contract Covid-19.

This new initiative will target these communities, building on the successes of Standard Chartered's entrepreneurship, employment and reskilling training for vulnerable communities disproportionately impacted by the pandemic, the bank said.

To date, the bank has supported more than 1,500 beneficiaries, in partnership with UCEP Bangladesh and Brac.

Naser Ezaz Bijoy, chief executive officer of Standard Chartered Bangladesh, said, "The ultimate battlegrounds in the fight against Covid-19 lie amongst our grassroots communities."

"Beyond the health challenges, this pandemic is reshaping the patterns of livelihood for the economically vulnerable, leaving many without the recourse to reintegrate within the evolving economic landscape."

"We remain committed to sharing our tried and tested interventions as widely as possible so that other socially responsible organisations can build on them and join us in tackling the challenges that lie ahead."

Zahida Fizza Kabir, CEO of Sajida Foundation, said, "Globally, Covid-19 has shown to be not only a healthcare challenge but also a major challenge for the economy and livelihoods of vulnerable households." "It is critical that we take approaches to increase the resilience of these households so that they can withstand future shocks."