Banks’ corporate social responsibility (CSR) expenditure on the education sector fell 62 per cent in this year’s January-June period compared to 2020 as educational institutions remained shut during the pandemic.
But CSR expenditure on the health sector rose 148 per cent in this period amid the Covid-19 outbreak.
In June last year, Bangladesh Bank instructed banks to allocate 60 per cent of their CSR expenditure for the health sector considering the pandemic and 30 per cent for education and 10 per cent for climate risk-related projects.
Banks spent Tk 461.41 crore as CSR in the January-June period this year, 11 per cent lower than the same period of the previous year, data from the Bangladesh Bank show.
Of the amount, Tk 23.18 crore was spent on the education sector; Tk 237.98 crore on health; Tk 134.37 crore on disaster management; Tk 7.84 crore on the environment and Tk 6.75 crore on culture, among others.
Of the total 60 banks, 18 did not spend a single penny on the health sector and 22 expended up to 5 per cent.
Moreover, six banks spent up to 20 per cent while 17 banks spent up to 59 per cent.
Only 15 banks spent over 60 per cent on the health sector following BB’s directive.
Twenty-six banks did not expend a single penny on the education sector, while 45 banks expended up to 5 per cent on the sector; 11 banks spent up to 20 per cent, and only four banks spent up to 30 per cent, BB data show.