Application For Support Under The Power To Make A Difference Programme

PMAD
Republic Bank executes its Power to Make a Difference programme through partnerships with registered charitable or non profit organizations.

Charitable organizations applying for support or partnership through the Power to Make a Difference programme must be registered charities (with the Board of Inland Revenue), which are well managed and accountable to donors for funds received. Beneficiaries of funds from the Power to Make a Difference programme will be required to account for the use of the funds through periodic expenditure reports. Funds must be used only for the purpose requested and must not be applied to other purposes without the written permission of Republic Bank Limited.

Requests for funding must reach the Bank by April 30th for consideration for the next year's budget. All applications will be acknowledged, however all proposals will not be successful in securing funding. Charitable organizations will be advised of the results of their application by the month of October. Disbursements are made according to Republic Bank's financial year which runs from October to September. Funds allocated for a project which is intended to be executed in the financial year, but is not, will be lost for instance funds approved for a project to be executed in fiscal 2012/2013, but which is not done, will not automatically be carried forward to fiscal 2013/2014. The charitable organization will be required to reapply for consideration in the next or future years.

Successful organizations will be required to submit to the Bank quarterly reports on the progress of the projects/programmes along with quarterly expenditure statements. All funds provided by the Bank must be accounted for by the charitable organization. Additionally funds allocated for one project cannot be reallocated by the charitable organization to another project without the written permission of Republic Bank Limited.

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