Payments

Federal Home Loan Bank of Cincinnati adds $3.9M to disaster relief program

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January 30, 2024

The Federal Home Loan Bank of Cincinnati has replenished its disaster reconstruction program with $3.9 million for a total of $5 million. The bank first created the fund in March 2012 following a series of tornadoes in Kentucky, Ohio and Tennessee, according to a press release.

Most recently, the funds were used to rebuild communities in eastern Kentucky, Dayton, Ohio and Waverly, Tennessee due to natural disasters. Since the program's inception, the board has authorized nearly $13.7 million for the program.

"Over the last 12 years, we've seen the Disaster Reconstruction Program make a difference in communities throughout Kentucky, Ohio and Tennessee when they have needed it most. DRP funds have helped rebuild homes from the ground up after devastating tornadoes and floods. These additional funds approved by our board of directors will ensure funds are available to continue this important work over the next few years," Andy Howell, president and CEO, FHLB Cincinnati, said in the release.