Mangalore: EDUCARE Fund loans distributed to needy students

Mangalore: EDUCARE Fund loans distributed to needy students

Mangalore Today News Network

Mangalore, Aug 26, 2013 : The EDUCARE Loan Disbursement Scheme  from the EDUCARE Fund set up through CODP by an NRI entrepreneur from UAE, was inaugurated by Mangalore Bishop Rev. Fr Aloysius Paul D’Souza at a function held at CODP-ISD Hall on August 26, Monday. The Bishop distributed cheques to needy students on the occasion.

 

In his address, the Bishop  said an anonymous NRI entrepreneur from the UAE has decided to spend Rs 25 crore  on the EDUCARE Fund for the first time in the community. He also wished success to the beneficiary students.

Fr Oswald Monteiro, Director of CODP in his address said the NRI entrepreneur has  contributed to a genuine cause without expecting any publicity. He said of the total 637 applications, 575 students were selected.  He said a sum of Rs 1,80,15,550 has been distributed as interest free loans to the students and the same has to be repaid after their studies.

Fr Valerian D’Souza, Fr Onil D’Souza, former director of CODP, Joseph Quadras,General Manager of MCC Bank, Michael D’Souza and  Branch Manager of MCC Bank were present on the occasion.