The NCB Foundation on Monday (July 8) officially launched the ‘Building a Better Jamaica’ fund, as its first initiative to bring disaster relief to areas in Jamaica most devastated by Hurricane Beryl.

The fund was announced in partnership with the Office of Disaster Preparedness and Emergency Management (ODPEM), Breds Treasure Beach Foundation, Food for the Poor, and United Way, among others, at a launch event at the Office of the Prime Minister (OPM) at Jamaica House in St Andrew.

Speaking at the event, NCB Foundation CEO Sheree Martin said the organisation is already in the process of formalising how the funds received will be appropriately disbursed and reported to stakeholders and the wider public.

“I daresay that this Fund is unique. We won’t only solicit donations but NCB will match these donations. For all sums received for this initiative, the [National Commercial] Bank through the foundation will double the pot, so to speak, by contributing an equal amount up to a maximum of $150 million,” said Martin.

In addition to matching donations of up to $150 million, NCB has also made an initial pledge of $20 million.

NCB Group Chairman Michael Lee-Chin added that the group’s contributions are only a drop in the bucket of what is needed but should serve as a catalyst for other people, corporations and diasporans to give what they can.

He highlighted that Beryl is likely to have caused a financial impact beyond Hurricane Ivan in 2004 and close to the most devastating hurricane to ever impact the country, Hurricane Gilbert in 1988. In 2023 dollars, Gilbert would have cost about US$2.5 billion worth of devastation.

“Last, we didn’t think this hit would be glancing. Last Wednesday, all of Jamaica was waiting with nervous breath, in anxiety, fearful of the devastation that was coming. The only question was how bad the damage would be.”

“It’s easy for us to be lulled and not realise that we have nothing to do with our fortunate conditions. It’s only by the grace of God that we didn’t get a direct hit and had we gotten a direct hit, we wouldn’t be sitting here today. Meanwhile, for our brothers and sisters in St Elizabeth, Hanover and Manchester, their lives are in shambles and it wasn’t by their invitation farm crops are devastated, roofs taken off, furniture blown away, and most had no insurance; and their future is up in the air and that’s just down the road,” Lee-Chin continued.

He added that Jamaicans spared by the devastation have a responsibility to give what they can to be their brothers’ keeper, to help them stabilise.

Prime Minister Andrew Holness shared that the Government’s role is to mainstream climate resilience by building buffers and reserves in its budgeting to reduce the need for borrowing in the event of natural disasters and ensure recoveries are full and sustainable.

“My job as prime minister is to make sure that every dimension of this crisis is properly covered; we want to do it speedily and we want to do it correctly,” said Holness.

“The dimension of the crisis that we’re looking at today is how do we manage public, corporate, civil society, philanthropy and donations? Michael Lee-Chin stepping forward like many others in the private sector and civil society are doing, who[m] we acknowledge, thank and encourage — but it is important that the Government creates a space where the corporate philanthropy and civil society philanthropy can be coordinated and organised,” he continued.

Donations can be made at this website https://disasterfund.opm.gov.jm/ or directly through bank transfers during the donation period until July 31.

Accounts for donations:

• JMD: NCB Mandeville branch, account number 501556815
• USD: NCB 1-7 Knutsford Boulevard branch, account number 354658984
• Swift Code/BIC: JNCBJMKX