UBA Budgets N5bn To Fight COVID-19

Posted on March 26, 2020

United Bank for Africa Plc (UBA Plc) has earmarked over N5 billion ($14 million) through the UBA Foundation, to catalyse a comprehensive pan-African response to the fight against the coronavirus (COVID-19) global pandemic.

The bank, in a statement, said Nigeria and 19 other African countries will benefit from the support targeted at supplying relief materials, critical care facilities and financial support to governments.

Lagos State Government will draw N1bn ($2.8million); N500 million ($1.4 million) to Federal Capital Territory, Abuja; N1 billion ($2.8 million) to the remaining 35 states in Nigeria and N1.5 billion ($4.2 million) to UBA’s presence countries in Africa.

Other allocations include: N1 billion ($2.8 million) for Medical Centres with equipment and supplies as well as free telemedicine call centre facility.

The pan-African bank added it will fund a medical centre immediately in Lagos with beds for isolation and ICU facilities managed and operated in partnership with Heirs Holdings’ healthcare subsidiary, Avon Medical Hospital.

Tony Elumelu, Chairman, UBA Group, explained: “This is a time when we must all play our part. This global epidemic must bring citizens, governments and business leaders together – and quickly.

“As we see a rapidly increasing number of cases of the coronavirus in Nigeria and Africa, the private sector has to work hand in hand with various Governments, in stemming the spread of the global pandemic.

“We commend the efforts of governments and we are keen to partner and contribute our resources to the collective effort that will ensure the response to the pandemic is swift and effective.”

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