CIBC recently made a $500,000 commitment to the University of Waterloo to improve access to education for Black undergraduate students. 

The CIBC Inclusion Award for Black Students is open to domestic and international students entering their first year of a full-time degree program, with preference being given to students enrolled in a STEM (Science, Technology, Engineering or Mathematics) program.

“At the University of Waterloo, we are fostering a more inclusive and equitable environment with programs and supports for our students,” says Vivek Goel, President and Vice-Chancellor of the University of Waterloo. “Our partnership with CIBC spans more than six decades, and this new investment will complement other new student opportunity funds we have created to eliminate some of the financial barriers faced by racialized students.”

"CIBC is proud of our longstanding partnership with the University of Waterloo. We're committed to removing barriers that all too often stand in the way of success for members of the Black community. The CIBC Inclusion Awards for Black Students will not only improve access to education but will empower the next generation of leaders and changemakers to make a lasting impact on the world,” says Ronan Ryan, Executive Director of the CIBC Foundation.

Four awards, valued at up to $25,000 each, will be offered annually for five years. Students interested in applying for the award this year must complete the application by April 15. The first selections will be made in summer 2024 and announced in the fall. 

“With access to accomplished faculty, our renowned co-op and entrepreneurial programs and a problem-solving culture that is unique to our community, recipients of this new scholarship will graduate with advanced skills and experiences that will prepare them to make their greatest impact on the world,” said Dr. Anita Taylor, UWaterloo’s (acting) Associate Vice-President, Equity, Diversity, Inclusion and Anti-racism.