Bridgetown, Barbados, 3 December 2020 – CIBC FirstCaribbean and Prince’s Trust International have signed a Memorandum of Understanding that will see the bank supporting the work of the Trust in the region to uplift and empower young people over the next five years.
During a virtual signing ceremony last Friday, the bank’s Chief Executive Officer and Chair of its charitable arm, the FirstCaribbean ComTrust Foundation, Colette Delaney and Will Straw, Chief Executive Officer of Prince’s Trust International, inked the agreement under which the bank will donate USD$50 000 annually to the Trust for the next five years.
Prince’s Trust International operates around the globe, including in the Caribbean, where it is currently working in Barbados, Jamaica and Trinidad and Tobago and is exploring future opportunities in the Eastern Caribbean.
Mr. Straw expressed his delight at the new partnership with the bank to further their work in the region. “We are very appreciative. We have great partnerships in Barbados and Jamaica so we look forward to taking this forward.”
He noted the economic fallout from the COVID-19 pandemic had impacted “young people hardest. We have a very important job to do in helping our young people get their confidence and resilience back.” He added that entrepreneurship would be key to overcoming youth unemployment in the region.
Ms. Delaney praised the work of the trust noting that as the region moves to recover from the pandemic “the work you do will become increasingly important”. She added that there were a number of “young people that have suffered and their education has suffered as a result of the pandemic. A lot of them have not had access to online education and they have really been impacted.”
Through the partnership CIBC FirstCaribbean will become an Employability Partner for the trust’s employability programmes operating in Barbados with the Ministry of Youth and Community Empowerment and in Jamaica with the Human Employment and Resource Training Trust/National Training Agency (HEART Trust NTA).
Becoming an Employability Partner will allow unemployed young people access to work placements and entry level employment opportunities at CIBC FirstCaribbean banks. It will also allow them to learn more about the financial sector through staff engagement and mentorship opportunities.
Captions: Chief Executive Officer of CIBC FirstCaribbean and Chair of its charitable arm, the FirstCaribbean ComTrust Foundation, Colette Delaney signs the MOU while Debra King, CIBC FirstCaribbean’s Director of Corporate Communications and a Trustee of the Foundation assist.
Some of the participants in the Prince’s Trust International programmes in Barbados
About CIBC FirstCaribbean
CIBC FirstCaribbean is a relationship bank offering a full range of market leading financial services through our Corporate and Investment Banking, Retail and Business Banking and Wealth Management segments. We are located in sixteen (16) countries around the Caribbean, providing the banking services through approximately 2,900 employees in 64 branches and offices. We are one of the largest regionally listed financial services institutions in the English and Dutch speaking Caribbean, with US$12 billion in assets and market capitalization of US$3 billion. We also have a representative office in Hong Kong providing business development, relationship management and fund administration. The face of banking is changing throughout the world and CIBC FirstCaribbean intends to lead these changes with the expertise, integrity and knowledge gained from banking in the Caribbean since 1836.
CIBC FirstCaribbean is a member of the CIBC Group. CIBC is a leading Canadian-based global financial institution with 11 million personal banking and business clients. Through our three major business units – Retail and Business Banking, Wealth Management and Capital Markets – CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada with offices in the United States and around the world.
For more information about CIBC FirstCaribbean, visit www.cibcfcib.com , Facebook, Twitter , LinkedIn, Instagram or YouTube.
About Prince’s Trust International
Prince’s Trust International was founded by HRH The Prince of Wales in 2015 and works with local partners around the world to deliver education, employment and enterprise programmes that empower young people to learn, work and thrive.
The charity launched with the mission of taking the tried and tested interventions of The Prince’s Trust in the United Kingdom and adapting them for young people with local partners across the Commonwealth and beyond. Prince’s Trust International programmes are now present in 13 countries across Africa, Asia, the Caribbean, Europe and the Middle East (including Jamaica, Trinidad & Tobago, Barbados; Greece, Malta, Serbia; Ghana, Kenya, Rwanda; India, Pakistan, Malaysia and Jordan).
Together with their partners, Prince’s Trust International has supported over 16,000 young people across the world, with 66% successfully entering in to work, education or training since 2018.
For more information about Prince’s Trust international visit our Website, Instagram, YouTube, LinkedIn, Twitter or Facebook.
