StanChart donates Rp 10b for Aceh

StanChart donates Rp 10b for Aceh

The Jakarta Post, Jakarta

Standard Chartered Bank (SCB) is offering Rp 10 billion (about
US$1 million) in grants to help finance relief efforts and
reconstruction work in tsunami-affected Aceh and North Sumatra.

The money, which was symbolically handed over on Monday to
Bank Indonesia, is part of $5 million the London-based bank has
pledged for relief and reconstruction activities in countries
affected by the recent tsunami.

SCB chief executive officer for Indonesia Stewart D. Hall said
that of the Rp 10 billion, half would be disbursed immediately to
the central bank for emergency relief efforts organized by the
International Red Cross.

"The remaining Rp 5 billion will also be channeled through
Bank Indonesia, for various programs in cooperation with United
Nations agencies," he said.

Hall said the SCB would continue to work with the central bank
to channel funds for future projects helping people in tsunami-
stricken areas.

"As soon as the assessment of the disaster is complete, we
will pledge more funds to build schools and orphanages there," he
said.

SCB is one of the largest international banks operating in
Indonesia, with 12 branches in five major cities providing
services to over 100,000 customers.

Also, some $4 million worth of aid has been pledged by
automaker General Motors (GM) and delivery company UPS to help
tsunami victims in affected countries.

UPS, which is providing about $3 million in donations, said in
a statement it would ship emergency relief supplies via air, sea
and land from Europe, Asia and the Americas.

GM's donation is in the form of cash, which will be presented
to the International Response Fund of the American Red Cross.

"General Motors wants to assist in the global relief efforts
to provide food, water, medicine and other resources to the
disaster victims as quickly as possible," GM chairman and CEO
Rick Wagoner said.

Elsewhere, PT Korea Exchange Bank Danamon also donated Rp 1.85
billion through Bank Indonesia as a sign of its commitment to
help tsunami victims.

The bank also provided equipment and staff for the Korea
Support Center for Tsunami Disaster located in Medan in order to
assist them in distributing the aid.