Last update: 01-Aug-2014 11:35 pm
Saturday, August 02, 2014
Trinidad & Tobago Guardian Online
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CIBC FirstCaribbean supports young entrepreneurs
CIBC FirstCaribbean International Bank (CIBC FirstCaribbean) has committed additional funds to the development of youth business in T&T by providing financial support to Youth Business T&T (YBTT), the local affiliate of Youth Business International. The organisation offers programmes to encourage entrepreneurship among young people to combat poverty and unemployment. CIBC FirstCaribbean director of corporate sales, Anthony Seeraj, presented a cheque to YBTT on behalf of the bank that represents the first-year funds of the bank’s new three-year commitment to the development of entrepreneurship among the region’s young people. During the cheque presentation, Seeraj conveyed the bank’s appreciation for the continued opportunity to lend assistance where it is so greatly needed.
“Our involvement with the Caribbean Association of Youth Business Programmes continues to be highly rewarding,” Seeraj said. “At CIBC FirstCaribbean, we are committed to our mission of being ‘First for Communities’ in which we operate. Through our association with youth business, and more specifically YBTT, we have been able to help foster the development of entrepreneurship among youth in our country.” With the support of the business community, YBTT helps young people between the ages of 18-35 years to work for themselves by providing access to business loans and business mentoring. The organisation funds most types of businesses, ranging from web design to agriculture production to day care centres.
In accepting the donation, vice chairman of YBTT, Dale Laughlin, thanked the bank, explaining they would use the funds for mentorship, loan financing, networking and training programmes. “YBTT is extremely pleased to partner with CIBC FirstCaribbean once again. The funding and general support from the bank will help us drive youth entrepreneurship, reduce youth unemployment and thereby play a vital role in the development of the economy.” A memorandum of understanding MOU details collaboration between the organisations until the year 2016. In addition to funding for the programme, CIBC FirstCaribbean also commits to providing business mentors to selected young entrepreneurs, a business mentoring day and experts who will offer training.