Republic Bank library coming

At the launch of Republic Bank’s “Power to make a Difference” community drive at Republic House last week Thursday, chairman and managing director of Republic Bank, Ronald Harford, presented $1 million to the St Mary’s Home for Children in aid of a transition home for teenagers on a new site in the Santa Cruz Valley.

According to the Human Development Report 2003, 39 percent of TT’s national population live below the income poverty line, surviving on less that US $2 or TT $12 a day. Statistics show that out of a population of 1.3 million, TT has some 325,000 young persons under the age of 15, representing 25 percent of the total population. Several thousand young people are homeless, abandoned or abused and there is an increasing need to provide more space and infrastructural facilities for children and youth who face these problems. At present, there are approximately 50 children’s homes, each with 20-30 children. These homes are mostly funded by religious bodies or governmental subvention. With high daily administration costs, the homes also rely heavily on benevolence from corporate bodies and concerned citizens.

In light of these facts, Republic Bank also committed the sum of $200,000 to complete the construction of the Credo Centre for Girls on Piccadilly Street in East Dry River, PoS. Expressing the bank’s concern for future generations of TT, Harford said, “They too want hope, opportunity and a head start to set their paths for life.” Republic Bank will also invest $23 million over the next five years in educational and sport programmes, $2 million of which will go towards the construction of the Republic Bank Library at the University of the West Indies, Institute of Business, at the Institute’s new site under construction in Mount Hope. Republic Bank also plans to invest $280,000 in the refurbishment of seven secondary schools during 2004.