Aiming to raise $20 million dollars over the next five years to enhance scientific development in the country, the council received 50,000 to fund scientific research.

The Endowment Fund established by the CSIR serves as a financial res­ervoir designed to support long-term research initiatives.

Mr Semiu Lamidi, Executive Direc­tor of the Bank, said the partnership aims to enhance the CSIR’s endow­ment fund, which is dedicated to fund­ing groundbreaking scientific research and development projects.
“First Bank is extremely happy to make this donation, and will continue to make more donations because we really want to see an impact in the lives of affected persons,” he remarked.

He said First Bank’s involvement in supporting the CSIR’s endownment fund reflects its commitment to corpo­rate social responsibility and sustain­able development.

“By investing in scientific research, the bank is not only contributing to the advancement of knowledge but also playing a crucial role in fostering economic development and social progress,” he stated.

He said the partnership between the two was a testament to the growing recognition of the importance of scientific research in addressing societal challenges.

Professor Paul Bosu, the Director General of CSIR, said the support from CSIR’s endowment fund marks a pivotal moment in the landscape of scientific research in the country.

He said as the CSIR embarks on new research initiatives, the collabora­tion with First Bank will undoubtedly pave the way for innovative solutions that address pressing challenges.

“This partnership exemplifies the power of collaboration between the financial sector and scientific institu­tions, ultimately driving progress and improving the lives of citizens,” he stated.

He added that with the support, the future of scientific research in the country looks promising, and the po­tential for groundbreaking discoveries is limitless.

He said with support, CSIR was poised to undertake ambitious research projects that could lead to significant breakthroughs in various fields, adding that the collaboration is expected to at­tract top tier researchers and scientists, further enhancing the country’s reputa­tion as a hub for scientific excellence.

The Chairman of the CSIR Plan­ning Committee and Director of the CSIR Water Research Institute, Pro­fessor Mike Osei-Atweneboana, said CSIR had long been at the forefront of scientific advancement, playing a piv­otal role in various sectors, including agriculture, health and technology.

However, he said the need for sustainable funding has become increasingly critical as the demand for innovative solutions to complex challenges grows, adding that “we face limited funding for Research and Development (R&D) infrastructure, human resource capacity development and operations.”

Prof. Osei-Atweneboana said the support from the bank would provide a much-needed financial boost, en­abling the CSIR to expand its research capabilities and foster a culture of innovation.