To advance the development of the economies and peoples of the entire Caribbean region, educational programmes must be expanded and enriched wherever possible. That's why CIBC has cultivated education partnerships throughout the Caribbean through Memoranda of Understanding (MOUs). These MOUs help our Bank to positively contribute to the sustained growth and development of a vibrant, efficient and effective banking and financial services sector in the region. This stimulates and supports business development, inter-regional and international trade and better positions our Caribbean community to compete in a global market.
At present, CIBC has MOUs with:
The University of the West Indies
The MOU covers several areas of collaboration including:
- The advancement of knowledge and the understanding of issues affecting business, trade and financial services in the Caribbean context
- Support and development of UWI students from around the region through scholarships and assisting young graduates in the transition from University
- Enhancing research in Banking and Finance
CIBC and the UWI agree that a very important contribution can be made to Caribbean development if a research culture can be fostered in the region that brings together the interests of University academics with those practicing in the field.
Both parties have agreed to promote the conduct of research on issues of importance to the banking and financial services sector. CIBC continues to provide funding to support this research which is awarded on a competitive basis to researchers on all three campuses of the UWI.
The MOU with the UWI was first signed in 2003 and is the longest MOU governed partnership the bank has to date.
The Healthy Caribbean Coalition Inc.
The MOU commits the CIBC FirstCaribbean International ComTrust Foundation to:
- Work with HCC to brand the volunteer initiative.
- Promote the volunteer initiative within the workplace and provide incentives for volunteering
- Working with the HCC to administrate/ manage the volunteer initiative.
TEN Habitat Inc.
TEN Habitat Inc is a non-profit company stationed in Barbados which focuses on helping entrepreneurs develop investor-ready businesses and providing them with mentorship, coaching, training and a space to co-create and innovate.
We signed an MOU to cover the following specific areas:
- The Advancement of Knowledge and Understanding of Issues Affecting Barbados and Caribbean entrepreneurs;
- The Support and Development of entrepreneurial projects around Barbados and the Caribbean;
- Mutual Use of Services and Joint Pursuit of Mutually Beneficial Business and Corporate Image Enhancement Opportunities.
- Both parties are keenly interested in deepening knowledge and understanding of issues affecting Startups and Entrepreneurs in Barbados and the Caribbean.
Hospital for Sick Children Caribbean Initiative
CIBC signed an MOU with the Hospital for Sick Children’s Caribbean Initiative – a regional foundation - in 2013. This MOU commits the bank to donate US $1M over a seven-year period. The Foundation’s contribution directly benefits nurses in the region through the provision of training. The hope is that through this project, the diagnosis and care of children affected by cancer and blood diseases such as sickle cell anaemia will be improved.
The Young Men’s Christian Association
The CIBC FirstCaribbean International ComTrust Foundation joined forces with the Young Men’s Christian Association in 2018 to support the YMCA after school programmes with scholarships for underserved youth, training opportunities for staff, sharing of promising practices, resources, and tools, and overall programme enhancement in six (6) YMCA chapters across the region. These are:
- Barbados YMCA
- YMCA of Grand Bahama
- YMCA of Jamaica
- YMCA of the Cayman Islands
- YMCA of Trinidad and Tobago
The memorandum runs until 2020 in the first instance.