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OAS Permanent Council Renews its Commitment to the Leo S. Rowe Student Loan Fund

The Permanent Council of the Organization of American States (OAS) today received the forty-ninth report of the Committee of the Leo S. Rowe Pan American Fund, presented by the Chair of the Committee and Permanent Representative of Antigua and Barbuda, Ambassador Deborah -Mae Lovell, which describes the activities of the Fund during the period from January 1, 2011 to December 31, 2012.

In her presentation, Ambassador Lovell reported that during the period covered by the report, the Fund received 254 applications, awarded 216 loans totaling $1.4 million and administered about 385 loans per year. "We have tried to make the Fund as inclusive as possible to ensure that all countries benefit from it; therefore, we committed to enable it to meet the needs of all students of the Hemisphere and, thus, to ensure geographical representation," she said. In total, she explained that during 2011-2012, young citizens from twenty-seven countries—out of the thirty-two eligible states—benefited from the Rowe Fund interest-free loans.

The document presented today states that over the last 65 years, "many beneficiaries have contributed to the social and economic development of the region by occupying key positions in their countries’ public sector, academia, the arts, and businesses. The ongoing expansion of the educational loan program and the goal of an even greater coverage are paramount priorities for the Rowe Fund Committee.”

After the presentation of the report, the representatives of the United States, Guyana, Honduras, Paraguay, Dominican Republic, Saint Lucia, Chile, Saint Kitts and Nevis, Canada, and Mexico took the floor to congratulate the Chair of the Committee for her work during that biennium and highlighted the value, contribution and relevance of the Fund as an indispensable tool for professional training in the Hemisphere, as well as for the financial achievements and regional coverage reached. In their interventions, the diplomats encouraged the Committee to continue strengthening and expanding this initiative throughout the region, especially in the Caribbean countries, and they emphasized that this program must be considered as one of the key priority issues of the Organization’s new strategic vision, which is next to be discussed. In this context, they suggested the possibility of carrying out an overall evaluation of the scholarship programs offered by the Organization, not just from the standpoint of benefit to students, but also in terms of their contribution to the development of the countries of the region.

For over sixty years, the Rowe Fund has facilitated the access of young citizens of the Hemisphere to higher education in the United States. Most beneficiaries feel that these interest-free loan programs help supplement their scholarships for study abroad, which are in high demand, rare, and not self-sustaining. The Fund's assets have been entrusted to the Permanent Council since 1948 and are administered by a committee composed of four member state representatives.

A gallery of photos of the event is available here.

The video of the event is available here.

The audio of the event is available here.

For more information, please visit the OAS Website at www.oas.org.

Reference: E-365/13