MILLION DOLLAR FUND

June 1998 Table of Contents - Current Issue of The Abaco Journal - Abaco Bahamas' Home Page

MILLION DOLLAR ABACO SCHOLARSHIP FUND

A $100 a head banquet was held at the Spinnaker, Treasure Cay, on 22nd April to raise funds for the Abaco Scholarship Fund. Main speaker for the evening was Prime Minister the Right Honourable Hubert Ingraham.

Bill Bulger told the assembly that the Scholarship Fund had started five years ago and two previous fund raising dinners had been held. During the past few months the Fund has benefitted from the Lyford Cay Foundation's offer to provide for administration costs. "Every dollar raised for Abaco will go to Abaco students," said Mr Bulger, adding that the first recipients will be selected in spring of 1999 and the amount of the scholarship should be about $4,000.

Ron Jackson, Chairman of the Board of Directors, told the diners that the goal was to raise $1 million and to date $250,000 had been received. He wanted to see committees established in Marsh Harbour, Green Turtle Cay, Hope Town and Man O' War as well as Treasure Cay. Although academic students would be considered for scholarships, the main emphasis was to provide grants for technical and vocational training. These grants would be paid to the schools, not the students. All those who received an award would be morally obligated to return to Abaco.

After being lavishly introduced by Deputy Island Administrator Jack Thompson, Prime Minister Ingraham told Mr Jackson not to worry too much about students returning to Abaco when they graduated. "As long as they return to The Bahamas, I shall be satisfied," he said. Prime Minister Ingraham had just arrived back in The Bahamas from the Second Summit of the Americas, held in Santiago, Chile.

The Prime Minister pointed out that a great number of economic projects were under way in the islands, including Castaway Cay by the Disney Corporation on Abaco. "Simultaneously, the financial services sector of The Bahamas is strengthening and growing. Construction, both residential and commercial, is at new heights. New initiatives are being pursued in agriculture, in fisheries and in forestry. The economy of The Bahamas is expanding. Many new jobs are being created and many new opportunities coming on stream for properly motivated, competent and trained young people. It is critically important that our youth be prepared to meet the challenges and benefit from the opportunities at this point in our development as a people and as a nation.

"I believe that it is extremely important that we have the best trained work force... I want to see Bahamian students compete successfully with the best internationally. The establishment of the Abaco Scholarship Fund will permit an increased number of our best students - who might not otherwise been able to afford to continue studying - to continue their education in their field of study of choice... I call upon young Bahamians to take full advantage of this programme which is designed to assist them in planning for their futures."

Prime Minister Ingraham concluded by thanking those who were involved in the inauguration of the Fund. "In particular, I wish to recognise the Treasure Cay Steering Committee and its Chairman, Mr Joseph Coulon, and Mr William Bulger. These gentlemen are only representative of the very special second home owners and international residents of Abaco's various communities who love Abaco as their own and who are dedicated to making life better for the many Abaconians they have come to know and love. I want to say that having come to know you, we Abaconians have also come to love you and to consider you as a part of our world."

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