By Howard Walker, Staff ReporterTHE NATIONAL Commercial Bank (NCB) will be sponsoring 200 tertiary level scholarships valued at $22 million for Jamaican students over the next two years as part of its continued commitment to education.
This was announced yesterday by Michael Lee-Chin, chairman of the NCB Group, at its headquarters at The Atrium, Trafalgar Road, New Kingston.
The scholarships are part of the $150 million, five-year Jamaican Education Initiative (JEI) launched last year.
"It is my greatest pleasure to announce that NCB in compounding our intellectual capital, will over the next two years be sponsoring 200 scholarships," said Mr. Lee-Chin. They are tenable at the University of the West Indies (UWI), the University of Technology (UTech) and the Edna Manley College of the Visual and Performing Arts.
The programme will offer 100 scholarships this year and 100 the following year, with the UWI receiving 123, UTech 60 and Edna Manley College receiving 17.
EDUCATING OUR YOUNG
According to Mr. Lee-Chin, NCB wants to be involved in a programme that is sustainable, because 'one day isn't good enough'.
Aubyn Hill, NCB's managing director, said his company was committing $150 million for the next five years as part of a larger, more enduring commitment to building a better Jamaica.
Said Mr. Hill: "That $150 million commitment is to make sure we educate our young people from kindergarten to tertiary level."
Meanwhile, Professor Kenneth Hall, principal of the UWI, welcomed the partnership with the NCB. "We are delighted with the initiative. The question of access to the university and of affordability will help us achieve several objectives," Professor Hall said.
Peter Lawson, head of the JEI, said the bank will be working directly with the institutions in administering the scholarships and how they are disbursed among the student bodies.
In 2002, when the Michael Lee-Chin-led AIC Limited acquired NCB, Mr. Lee-Chin said the thought was to help create wealth by re-investing in Jamaica. He reiterated his company's commitment to education but did not want to supercede the Government's efforts although they are stretched to the limit. "Because of the constraints of the Government where education is concerned, we are observing and wherever we can help we will help but we don't want to supplant the Government."
On May 20, 2003, NCB launched the $150 million Jamaican Education Initiative, which defines corporate responsibility, taking NCB's commitment to nation building to a new level.
