To bring added focus and strength to our international charitable giving programs, in 2007, we rolled out our new Scotiabank Bright Future Program in all of our Caribbean and Latin American locations. Through this new giving program, Scotiabank will concentrate much of our social investments in charitable groups or community projects that enhance the well-being of children, particularly in the areas of education, health and wellness or the eradication of youth poverty.

Bright Future community projects are chosen by our local management teams who are most familiar with the community needs. In-country donation budgets are based on the one per cent of domestic pre-tax profits guideline that Scotiabank practices in Canada, as part of the Imagine Caring Company program.

In 2007, non-profit organizations benefiting from our Scotiabank Bright Future program addressed a wide range of community needs, such as the Rosa Duarte Orphanage School in Dominican Republic that provides full-time shelter and education to orphaned and abused girls. To address low primary school completion rates in Belize, the new Scotiabank Belize Youth Program awarded 64 primary school students with grants to pay for tuition and school books for one year. The Bank’s Cdn$100,000 contribution was supplemented by additional fundraising by local employees.

Hands-on involvement by Scotiabank employees is an important component of the Bright Future program and the Bank provides funding support to employees who fundraise or volunteer their time for local children’s charities. As part of our Scotia Employee Volunteer Program and Team Scotia Community Programs, international employees can earn funds for their chosen local children’s charity.