Delivery of temporary housing and emergency necessities with KOICA
Shinhan Financial Group headquarters. [Yonhap News] Shinhan Financial Group announced on the 17th that it would provide an emergency relief fund worth US$200,000 for Ukrainian refugees who are suffering from war.
In Ukraine, the supply of essential supplies such as electricity and water and daily necessities, including medical supplies, is cut off due to the destruction of major urban facilities. As a result, many Ukrainians are fleeing to neighboring border countries such as Poland and Romania.
The United Nations estimates that more than 4 million refugees will be displaced as a result of the crisis. 1.5 million children, nearly half of all refugees, are in need of help as they do not receive basic education as well as livelihood and medical support.
Shinhan Financial Group, together with KOICA, will provide temporary accommodation for about 24,000 children and female refugees in Poland, which borders Ukraine, through a domestic private organization. Emergency necessities such as food and sanitation items needed during the stay at the dormitory will also be provided.
Shinhan Financial Group, together with KOICA, has established a special budget for emergency relief in the event of overseas disasters and disasters as one of the public-private partnership projects, and has been providing humanitarian aid worth about 200 million won annually since 2019.
Shinhan Financial Group Chairman Cho Yong-byeong said, “I hope this emergency relief activity will help Ukrainian refugees who are suffering in some small way.
Meanwhile, since the 7th, Shinhan Bank has provided a total of 300 billion won in financial support to companies affected by the Ukraine crisis. In addition, it provides financial support such as deferment of amortization for the amortization of existing loans and reduction of interest rates by up to 1.0% point for maturity extension.
