Scotiabank has invested in the future of Cayman by donating US$$20,000 to the Build Your Future Cayman Foundation to fund vocational skills training opportunities for eight students.
Sarah Hobbs, VP & Country Head — Scotiabank Cayman, said they saw this as an investment in the future of Cayman.
“By investing in the futures of these young people we are helping to build and foster economic resilience within their families and the wider community. We also see skills-training as one of the pivotal tools in creating a more sustainable labour market within the Cayman Islands, especially as we continue to contend with the impact of the ongoing pandemic,” she said.
Michael Myles, Owner and Director — Inspire Cayman Training, added praise for the action taken by the Bank. “We welcome Scotiabank as far more than a socially- responsible corporate partner. This is Scotia recognising what the future of Cayman must be and how important this programme is to the creation of that future,” he said.
Build Your Future Cayman was established in 2020 to offer scholarships for Technical Vocational Educational Training (TVET) for internationally accredited courses offered by Inspire Cayman Training. Mr Myles noted there had been limited access to financial grants for his TVET programmes which aimed to cure the shortage of local labour in the construction, hospitality and automotive industries.
Ms Hobbs said: “Scotiabank understands that the Build Your Future Cayman Foundation’s, and by extension, Inspire Cayman Training’s vision for Cayman is ultimately to reduce the unemployment rate by empowering individuals to meet their career goals. This is very much in line with our ScotiaRISE global philanthropic ambitions.
“One of the things that attracted us to the programme was not only the fact that it was providing vocational training to its participants, but also life and social skills. The eight beneficiaries of the donation will get the soft skills necessary for them to find fulfilling employment and very importantly how to manage money.”
In January 2021, Scotiabank pledged itself to a 10-year global initiative to have meaningful impact on education and employment opportunities throughout its footprint across the world.
“Across the globe, we are committed to investing some US$500 million to support programmes and partner with organisations that are helping to increase high school graduation rates, post-secondary enrolment, and boost employment prospects wherever we operate,” she noted.