Jamaica's Central Bank to Launch Multi-Million Dollar Education Initiative

KINGSTON, Jamaica – The island’s Central Bank – the Bank of Jamaica (BOJ), has announced plans to launch a J$20million initiative to benefit students.

BylessRichard BylesThis is being done in celebration of the institutions 60th anniversary.

The initiative will go towards 60 students from selected primary, secondary and tertiary schools benefitting from bursaries aimed at assisting with tuition, the provision of devices for e-learning, books and other miscellaneous expenses for the academic year 2021/2022.

Under its 60th Anniversary Educational Grant Program, the BOJ will empower Jamaican students with this financial support as they advance their academic development and become future leaders of Jamaica. 

The awardees will be from schools carefully selected by the Ministry of Education, Youth and Information from across the Island. BOJ will collaborate with the Ministry of Education, Youth and Information in the selection of the worthy recipients. 

The award of bursaries will be announced in August 2021.

According to BOJ Governor, Richard Byles, the initiative could not have come at a better time “as Covid-19 continues to reshape how we teach our children to meet the challenges of the future.”

“Nation Building is something we at Bank of Jamaica take pride in and this initiative seamlessly aligns with that. This pandemic has inspired many Jamaicans to be more innovative in all aspects of our lives and I must say we have adjusted and adapted in how we serve Jamaica – both economically and educationally.

This is our diamond anniversary and there is a lot to celebrate! Bank of Jamaica, your central bank, continues our mission to build Jamaica.”

Education, Youth and Information Minister , Fayval Williams, said this is a timely intervention to support students across the education sector. 

“This is a most welcome move by Bank of Jamaica. Whilst the Government has an extensive program of assisting students, initiatives by private and public sector entities to help our students pursue their studies and career goals are always important additions to the national effort. I offer my personal

congratulations to the BOJ on 60 years of excellent service to Jamaica and special thanks for this 60th Anniversary Educational Grant Program.”

The schools selected were chosen on a need basis and identified as having a significant number of students on the Program of Advancement for Health and Education (PATH).