News

NCB answers UWI's appeal for partnership

Friday, February 21, 2014    

Print this page Email A Friend!


NATIONAL Commercial Bank (NCB) yesterday signed a partnership with the University of the West Indies (UWI) worth just under US$1 million to fund a chair and research on corporate renewal and transformation.

The bank said it made the decision after reading an appeal by the university for partnerships published in the Jamaica Observer on Wednesday.

The appeal was issued by UWI Principal Professor Archibald McDonald at this week's Observer Monday Exchange.

"We need partners to fund our research and maybe, even more importantly, we need partners to convert some of the research into commercial activities," Professor McDonald said in the run-up to Research Days 2014, which started on Wednesday and end today.

Yesterday, NCB said it considered the partnership to be essential in generating new knowledge to guide Jamaican firms on how to develop dynamic capabilities and strategies for profitable growth.

"This partnership will see NCB providing nearly US$1 million applied in the following two phases and will include, but is not limited to, the following elements:

* Phase 1: From January 2014 to December 2016, at a budgeted cost of US$503,000, and delivery of two technical papers, a seminar and a short executive-level course for NCB Jamaica; and

* Phase 2: A sponsored chair, with a budget of US$405,000, will engage in a variety of scholarly activities to advance knowledge in the area, including the publication of scholarly academic papers, which will also be distilled for consumption by the public.

During yesterday's signing at the UWI Mona Campus, Professor McDonald thanked NCB for having the confidence in the university to invest in the project.

"The planned technical papers will generate new knowledge to guide not only NCB but all Jamaican and Caribbean firms on how to develop dynamic capabilities and strategies for profitable growth in the current environment," McDonald said.

"It will also provide new information for strengthening the Jamaican and Caribbean private sector for sustainable economic growth. An important aspect of this work will be the Caribbean-wide dissemination of the work, and we at UWI Mona are well placed to ensure that this takes place," he said, adding that the chair "will ensure continuity after the technical papers have been delivered".

ADVERTISEMENT

POST A COMMENT

HOUSE RULES

 

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper – email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT
ADVERTISEMENT

Poll

Will you close your bank account because of Government's tax on withdrawals?
Yes
No


View Results »


ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT