Republic Bank and IDB Partners to Finance Accommodation Facilities for Texila American University (TAU)

Republic Bank (Guyana) Limited on February 23, 2024 signed a strategic partnership agreement with the Inter-American Development Bank (IDB) Invest to finance the construction of accommodation facilities for Texila American University (TAU). The facilities; funded through this partnership will have modern and comfortable living spaces for students and faculty members alike. The proposed facility for students will include 86 two-room apartments and 16 one-room apartments. The staff facility will cater for 30 of Texila’s staff.

The US$9 million financing package includes a senior loan of US$5 million from IDB Invest and US$4 million from Republic Bank. The project is expected to contribute to an increased student enrollment of almost 73% by 2026 and a 20% increase in the number of graduated students by the same year.

The Bank’s relationship with Texila American University (Guyana) Inc. is in its fourteenth year, commencing soon after the University’s incorporation in 2010. A few years later, in 2017, Republic Bank partnered with the University to establish its campus at Providence, East Bank Demerara. With accommodation now a priority for the University, Republic Bank is extremely pleased to extend its support, as joint lenders with IDB Invest, for the construction of facilities for the students and faculty members.

Republic Bank is committed to supporting the development of the University and this is underscored by way of this financing arrangement in partnership with IDB Invest.

We congratulate the management of Texila American University on these initiatives to provide quality and comfortable accommodation for its students and staff and look forward to our continued partnership in the years ahead.

March 4, 2024
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