Home » Billionaire Michael Lee-Chin launches $2-million relief fund for Beryl recovery

Billionaire Michael Lee-Chin launches $2-million relief fund for Beryl recovery

Lee-Chin leads initiative to aid Jamaican communities hit hardest by Category 4 storm

by Feyisayo Ajayi

Key Point

  • Michael Lee-Chin launches $2-million disaster relief fund through NCB Foundation to aid Hurricane Beryl victims in Jamaica.
  • NCB Foundation’s relief fund aims to support individuals and families in St. Elizabeth, Hanover, and Manchester.
  • NCB Financial Group commits to matching donations, urging solidarity from the Jamaican diaspora and corporate entities.

Michael Lee-Chin, a Jamaican-Canadian businessman who ranks as one of the world’s Black billionaires, has launched a $2-million disaster relief fund through the N.C.B. Foundation, the philanthropic arm of The National Commercial Bank Jamaica Limited.

This philanthropic initiative, aimed at assisting communities ravaged by Hurricane Beryl, underscores Lee-Chin’s commitment to supporting his homeland during times of crisis.

Hurricane Beryl, a Category 4 storm, made landfall earlier this month, causing widespread devastation across Jamaica, particularly in the parishes of St. Elizabeth, Hanover, and Manchester. In response to the urgent need for aid, the NCB Foundation’s relief fund will provide support to individuals and families grappling with the aftermath of the disaster.

Michael Lee-Chin urges solidarity amid hurricane crisis

“We are deeply concerned for our fellow Jamaicans who have suffered emotional and financial loss due to this hurricane,” stated Michael Lee-Chin, Chairman of NCB Financial Group Limited (NCBFG). He urged solidarity from customers, corporate entities, the general public, and the Jamaican diaspora to contribute to the fund, emphasizing NCB’s commitment to match donations made.

The $2-million relief fund launched with an initial pledge of J$20 million ($0.13 million), has received praise from Jamaican authorities who acknowledge the critical role such initiatives play in facilitating recovery efforts. 

The NCB Foundation plans to leverage its extensive network to ensure that funds are efficiently distributed to those in dire need, working in collaboration with approved charitable organizations.

NCBFG sustains role in development initiatives

NCB Financial Group Limited (NCBFG), the parent company of National Commercial Bank Jamaica, has long been a cornerstone of Jamaica’s financial landscape, dating back to 1837. With assets totaling J$163.17 billion ($1.05 billion) and a strong market presence, NCBFG remains committed to advancing Jamaica’s social and economic development through strategic philanthropy and community engagement.

As Jamaica embarks on its journey to rebuild in the aftermath of Hurricane Beryl, the NCB Foundation’s $2 million disaster relief fund and matching donation program stand as a beacon of hope. Michael Lee-Chin’s leadership underscores the collective effort required to support vulnerable communities during times of adversity, reaffirming NCBFG’s commitment to its role as a catalyst for positive change in Jamaica.

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