NAB increases its natural disaster business support

By Georgia Wilson
Following new research on the impact of bushfires for businesses, NAB has increased its natural disaster support...

In an announcement made by NAB, the company reports its plans to increase its support measures for customers and communities to help before, during and after a natural disaster. The announcement comes in response to a survey conducted by the company which found that 1 in 2 businesses are still feeling the impact of the summer bushfires in 2019, and 9 in 10 customers impacted were never offered support for how to prepare for such an event.

As a result NAB has established a new AUD$1.2mn foundation community grant program to help customers prepare for and recover from natural disasters, as well as long term recovery support to build resilience against future disasters.

In addition NAB has promised to extend its emergency grants in the event of a future natural disaster, in order to provide immediate relief for temporary accommodation, food, clothing and business costs.

“Customers have told us that they need more support from financial institutions to help them in a time of crisis, but also to help them better prepare in the event of a crisis and recover in the long-term. They also told us how important it was for families and businesses to have quick access to immediate funding during the disaster. Today’s announcements are about providing that support for Australians before, during and after a natural disaster,” commented Ross McEwan, CEO at NAB.

During last year's bushfires NAB committed AUD$5mn to relief and recovery efforts, with AUD$3mn provided in the form of emergency relief grants to over 1500 Australians while an additional AUD$560,000 was donated to the Australian Red Cross and local charities, and AUD$1.4mn is being used to support longer-term recovery.

“The new NAB Foundation Community Grants will be awarded to local community groups for initiatives including education, training, preparedness plans, mental health support, infrastructure, equipment, urban greening and reducing climate risk,” stated NAB.

To find out more, click here!

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