May 2009 Financial News

Lara cancer fund gets $6m

May 05, 2009

RBTT is set to pump $6 million to help children with cancer in the country.

Last month, RBTT Financial Group CEO, Suresh Sookoo, signed a Memorandum of Understanding with Brian Lara, chairman of the Cancer Treatment Foundation in Trinidad and Tobago, committing the money to paediatric cancer over the next five years.

The Royal Bank of Canada/RBTT Caribbean Children's Cancer Fund, together with the Foundation, will assist young persons under the age of 16 who have been diagnosed with cancer.

Lara stated he was "heartened by RBTT's commitment to the foundation."

The West Indies batting legend will receive the first TT$1.2 million contribution on May 12 when the Royal Bank of Canada (RBC) officially opens its new Caribbean head office, St Clair Place, RBTT said in a press release.

"This fund will play a momentous role in our efforts to provide medical treatment to young patients diagnosed with this debilitating disease," said Lara.

RBTT will make annual contributions of $1.2 million, totalling $6 million, to the foundation for a period of five years. In addition, RBC and RBTT employees across the region will seek to raise additional funds in support of children's cancer treatment.

"If we can give hope to children afflicted with this dreadful disease, we can make a difference for the future of so many young people." said Sookoo, who noted that there was a heavy financial and emotional burden on the families of child cancer patients.

Last September, RBC President and CEO Gordon Nixon met with Prime Minister Patrick Manning and announced RBC/RBTT's intent to make the million-dollar commitment to cancer.

RBC last year acquired RBTT for $13 billion.


Source:
Trinidad Express
Tuesday, May 5th 2009

http://www.trinidadexpress.com/index.pl/article_business?id=161473382