Newspaper article The Northern Star (Lismore, Australia)

$400,000 for Cyclone Recovery

Newspaper article The Northern Star (Lismore, Australia)

$400,000 for Cyclone Recovery

Article excerpt

THE National Australia Bank has announced a $300,000 donation to the Red Cross to support communities impacted by Tropical Cyclone Debbie and flooding in Queensland and New South Wales.

NAB will also provide $100,000 to its microfinance partner, Good Shepherd Microfinance, to help people affected by the disasters to repair or replace flood-damaged goods, such as fridges and cars, via the No Interest Loan Scheme (NILS).

"We hope these funds, along with our existing financial relief package, will help people, businesses and communities recover, cleanup and rebuild," said Andrew Hagger, NAB's chief customer officer of consumer banking and wealth.

NAB provides the loan capital for NILS loans that are available through community organisations in the impacted areas, as well as through Good Money stores, which are a joint initiative of Good Shepherd Microfinance, NAB, the Federal Governement, and various state governments.

"Through this $100,000 for NILS, we could help more than 300 families replace their damaged fridges or washing machines," Mr Hagger said. …

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