An institute dedicated to cross-border relations will benefit in a big way thanks to Scotiabank.
The bank announced a $500,000 grant for the University of Windsor's Cross-Border Institute (CBI), in support of research into global trade and technology. The gift was revealed during a news conference on Thursday at the CBI.
The grant is spread over five years and is part of Scotiabank's initiative supporting global transactions, which focus on small and mid-size enterprises that concentrate on the role banking plays in promoting Canada's trade situation.
Alex Besharat, Scotiabank's senior vice-president and head of Canadian wealth management, said an entity like the CBI is ideal since the Windsor-Detroit area is crucial in Canadian trade.
"We want to target those investments to areas that are of interest to our bank, to finance and to trade. Trade is the lifeline of Canada. We're in Windsor, and so much of the artery of that trade is right here in Windsor," said Besharat, adding that the investment into the Gordie Howe International Bridge made awarding the grant to the CBI a no-brainer.
The CBI will use this grant for a variety of tasks, such as emerging global technology, policy and political impacts on global business, and supply chain finance. Dr. Bill Anderson, director of the CBI, said the work they intend to do as a result of this donation covers more than just cross-border business.
"A lot of this is about business practice, about the law, about how different players in the financial sector interact with each other, how financial institutions react with government organizations," said Anderson.
Anderson added that not only will this grant allow the CBI to investigate these relationships but also allow students and faculty at the University of Windsor to develop ways to present them relevantly and engagingly.
Dr Bill Anderson, director of the University of Windsor Cross-Border Institute, on February 28, 2019. Photo by Mark Brown/Blackburn News.