First Bank donates GH¢50,000 to CSIR Endowment Fund

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Staff of CSIR and Management of First Bank showing the dummy cheque

The Council of Scientific and Industrial Research (CSIR) yesterday received support from First Bank for its ambitious Endowment Fund.

Aiming to raise $20 million dollars over the next five years to enhance scientific development in the country, the council received 50,000 to fund scientific research.

The Endowment Fund established by the CSIR serves as a financial reservoir designed to support long-term research initiatives.

Mr Semiu Lamidi, Executive Director of the Bank, said the partnership aims to enhance the CSIR’s endowment fund, which is dedicated to funding groundbreaking scientific research and development projects.

“First Bank is extremely happy to make this donation, and will continue to make more donations because we really want to see an impact in the lives of affected persons,” he remarked.

He said First Bank’s involvement in supporting the CSIR’s endownment fund reflects its commitment to corporate social responsibility and sustainable development.

“By investing in scientific research, the bank is not only contributing to the advancement of knowledge but also playing a crucial role in fostering economic development and social progress,” he stated.

He said the partnership between the two was a testament to the growing recognition of the importance of scientific research in addressing societal challenges.

Professor Paul Bosu, the Director General of CSIR, said the support from CSIR’s endowment fund marks a pivotal moment in the landscape of scientific research in the country.

He said as the CSIR embarks on new research initiatives, the collaboration with First Bank will undoubtedly pave the way for innovative solutions that address pressing challenges.

“This partnership exemplifies the power of collaboration between the financial sector and scientific institutions, ultimately driving progress and improving the lives of citizens,” he stated.

He added that with the support, the future of scientific research in the country looks promising, and the potential for groundbreaking discoveries is limitless.

He said with support, CSIR was poised to undertake ambitious research projects that could lead to significant breakthroughs in various fields, adding that the collaboration is expected to attract top tier researchers and scientists, further enhancing the country’s reputation as a hub for scientific excellence.

The Chairman of the CSIR Planning Committee and Director of the CSIR Water Research Institute, Professor Mike Osei-Atweneboana, said CSIR had long been at the forefront of scientific advancement, playing a pivotal role in various sectors, including agriculture, health and technology.

However, he said the need for sustainable funding has become increasingly critical as the demand for innovative solutions to complex challenges grows, adding that “we face limited funding for Research and Development (R&D) infrastructure, human resource capacity development and operations.”

Prof. Osei-Atweneboana said the support from the bank would provide a much-needed financial boost, enabling the CSIR to expand its research capabilities and foster a culture of innovation.

BY BENEDICTA GYIMAAH FOLLEY