KBZ Bank supports MMK 3 Billion for the COVID-19 Vaccination Fund
KBZ Bank has made a donation of MMK 3 billion to the COVID-19 Vaccination Fund to support the government’s efforts to purchase COVID-19 vaccines for the people of Myanmar. The donation was approved by KBZ Bank’s Social Purpose and Impact Partnership Committee and will support Myanmar’s vaccination drive which is targeted to begin in February 2021.
Since December 2020, the Ministry of Health and Sports has been working to acquire vaccines using government funds. On 30 December 2020, the National-Level Central Committee on Prevention, Control, and Treatment of Coronavirus Disease 2019 formed the Fund Management Sub-committee on the Purchase of COVID-19 Vaccines. 
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The Sub-committee established the COVID-19 Vaccination Fund by opening two bank accounts, a foreign currency account, and a Myanmar currency account, at Myanma Economic Bank in Nay Pyi Taw. Initial deposits of USD 250 million and MMK 1 billion in government funds were deposited into the accounts. Following this, the Ministry of Planning, Finance, and Industry on 5 January 2021 called on organizations and individuals to contribute cash donations toward the purchase of vaccines.
In response to the call for support from the Myanmar government, KBZ Bank transferred the donation of MMK 3 billion to Myanmar Currency Account No. OA 013733 at Myanma Economic Bank for the COVID-19 Vaccination Fund on 11 January 2021.
“We are extremely proud to heed the government’s call and make this contribution towards Myanmar’s vaccination drive. We are now at a crucial point in our collective fight against COVID-19, and the vaccines will be key to alter the course of the pandemic and help the country move towards a resilient recovery. We have made this donation in the spirit of Metta, or loving-kindness, and we hope businesses and communities alike will also support Myanmar’s vaccination efforts,” said Daw Nang Lang Kham, Deputy CEO of KBZ Bank.
KBZ Bank’s Social Purpose and Impact Partnership Committee (SPIP) critically evaluates all charitable requests received by KBZ Bank, measures the impact of its donations, and ensures the appropriate use of funds. Guided by the SPIP, KBZ Bank has to date contributed MMK 9 billion towards Myanmar’s efforts to fight COVID-19. 
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This includes MMK 1.5 billion to help transform the Yangon Convention Centre into a COVID-19 treatment facility known as Inya Centre, MMK 559 million to provide rice to vulnerable people across the country, and MMK 120 million for the purchase of six thermal detection units for the Yangon Regional Government.
The Bank has also joined forces with other KBZ branded companies including KBZ MS General Insurance and AIR KBZ as well as Chairman Emeritus to collectively donate MMK 14.2 billion towards Myanmar’s response to COVID-19. To date, KBZ branded companies have donated more than MMK 184 billion to support the country and its people and will continue to provide the necessary support when needed.
