Bank has contributed more than US$1.4 million since 2003
Two companies are continuing to invest in the development of youth both locally and regionally.
CIBC FirstCaribbean International Bank and the University of the West Indies have renewed a three-year contract for young people seeking higher education.
The funds support development in areas such as research in banking and finance and issues affecting Caribbean entrepreneurship, and those pursuing higher learning at one of the university’s three campuses.
Three local recipients, Lori Moncrieffe, Janique Samson and Janiecia Connolly, have each benefited from the two- year US$25,000 scholarship, and all work at the bank. Another local resident, Rolena Eden, just received a scholarship and is off to school.
Since the signing of the memorandum of understanding between the two entities in 2003, FirstCaribbean International Bank has contributed more than US$1.425 million to the University of the West Indies for regional development.
Rik Parkhill, chief executive officer of CIBC FirstCaribbean, said the bank is “extremely pleased” to continue its partnership with the university.
“Our relationship is unique because it provides not only avenues for financial investment but, and just as important, opportunities for us to interact and collaborate on areas of vital significance to the development of the Caribbean,” said Mr. Parkhill, adding that intellectual capital is a key driver of organizational excellence and competitive advantage.
“The University of the West Indies is a prime incubator and generator of intellectual capital and this capital will be incredibly important in helping to navigate the region out of recession,” he said.
Professor Hilary Beckles thanked the bank for its commitment to their relationship at a critical juncture in the university’s development.
Scholarships have been awarded to more than 180 students with support also given to student entrepreneurs, and to the Frank Worrell Memorial Lecture and senior employees, the bank states.