To bolster the infrastructure of Texila American University (TAU), Republic Bank (Guyana) Limited and the Inter-American Development Bank’s (IDB) Invest Department have forged a strategic partnership to fund the construction of modern accommodation facilities for both students and faculty members at TAU’s campus in Providence, East Bank Demerara (EBD).
The financing agreement, totaling US$9 million, comprises a senior loan of US$5 million from IDB Invest and US$4 million from Republic Bank. This investment, is said to underscore the commitment of both institutions to support TAU’s mission of providing quality education and facilities.
The proposed accommodation facilities will cater to the needs of the university community, with plans including 86 two-room apartments and 16 one-room apartments for students, along with accommodation for 30 staff members. This initiative aligns with TAU’s vision to create a conducive learning environment that fosters growth and development.
The modern student hostel, designed with safety, sustainability, and student comfort in mind, will also feature separate blocks for boys and girls, along with various amenities such as laundry facilities, a sick room, and 24/7 security monitoring.
Additionally, the University in its submission to the EPA had noted that its plans for staff accommodation reflect its dedication to creating a holistic environment for its faculty members.
The bank earlier this week announced that its relationship with TAU dates back 14 years, highlighting a longstanding commitment to the university’s advancement. Present during the signing ceremony was Dr. Ajay Kumar Singh, Registrar & Chief Operations Officer (TAU); Syam Kumar, Chief Executive Officer (TAU); Dr. Ashni Singh- Minister of Finance; Stephen Grell, RBL Guyana Limited’s Managing Director; and Sreebalakumar, Director Projects & Public Relations (TAU).
It was noted that since its inception in 2010, TAU has emerged as a beacon of higher education in Guyana, offering a diverse range of programs in Medicine, Nursing, Pharmacy, Allied Sciences, Management, and Information Technology.
Moreover it was noted Republic Bank and IDB Invest’s partnership marks a pivotal moment in TAU’s journey towards academic excellence and infrastructure development. As the university continues to expand its global reach and impact, these investments will play a crucial role in shaping the future of higher education in Guyana and beyond.
