REPUBLIC Bank (Guyana) will inject $170M more into social investment and community outreach programmes, in another five-year phase of its ‘Power to Make a Difference’ (PMAD) programme. Managing Director, Mr. John Alves made the announcement last Thursday at the bank’s Promenade Court, New Market Street, Georgetown.
He said the Bank, which strives to raise the bar in corporate social investment, has its focus on youth development, community enhancement and the differently able in this country.

Alves said his institution has already expended in excess of $20M of the $170M allotted and pledged commitments of $131M for the coming year.

He detailed a number of projects in which the Bank has been involved, recognising that building communities go well beyond random donations and is about social intervention, social investment and a genuine long term commitment to partner with like-minded individuals to change mindsets and provide opportunities for persons to learn, achieve and prosper.

Among those receiving cheques for various causes were Minister of Culture, Youth and Sport, Dr. Frank Anthony; Minister of Labour, Mr. Manzoor Nadir; Mayor of Georgetown, Mr. Hamilton Green; Deputy Vice-Chancellor of University of Guyana (UG), Dr. Marlene Cox and Chairman of St. Joseph Mercy Hospital, Mr. Christopher Fernandes.

Alves disclosed that the Bank pledged $5M towards the rehabilitation of a wing at St. Joseph, after part of it was destroyed by fire earlier this year.

Partnering with the Mayor and City Council (M&CC), the Bank will donate $7.3M, over the coming year, to the maintenance of the Promenade Gardens, he said.
Alves said UG is also assured of awards, from the Bank, to the Best Graduate at the Tain Campus, Corentyne, Berbice; the Best Graduating Student with a Diploma in Banking and Finance at the Turkeyen Campus and the Best Graduating Student with a Degree from the Faculty of Social Sciences.

MAINTAINING
The Bank will also be maintaining the UG Scholarship Award and the annual subscription to business journals for the UG Library.

Highlighting its contribution to the Guyana labour market, Alves said the Bank is extending its pledge to the Youth Link Apprenticeship Programme for students leaving high school and readying themselves for the world of work, as well as continuing to focus on final year students of UG, through the Republic Bank Career Coach Programme.

He said cultural preservation is a major part of PMAD and the Bank has made a pledge to continue supporting the Ministry of Culture, Youth and Sport, with such programmes as the Pan Minors Music Literacy Programme, the Mashramani Panorama Steelpan Competition and the Biennial National Drawing Competition.

General Manger, Credit, Mrs. Patricia Plummer noted that the Bank is being very public in its efforts not to blow its own trumpets but to draw attention to its efforts in a  bid to influence others and usher in a new age of corporate consciousness in Guyana.

Resident Representative and Coordinator of the United Nations Development Programme, Dr. Kiarai Liman-Tinguiri voiced support for the PMAD, lauding it for ingenuity.

Noting that 2015 is quickly approaching, he said the Millennium Development Goals (MDGs) will challenge all stakeholders, including the Private Sector.
He emphasised that development is UNDP’s business as well, so the branch in this country is working with the Private Sector.

Liman-Tinguiri posited that growth often includes key elements of corporate social responsibility and encouraged the wider Private Sector to be examples.

The first five years of the PMAD extended from 2004/2005 through 2008/2009 with an input of $81M and the next five years, started 2009/2010 will continue through 2013/2014.