Golden Gates MP Shane Gibson is delivering on an election promise he made a year ago.

On Wednesday, Mr. Gibson announced the establishment of the Golden Gates Scholarship Fund Committee, which is designed to raise and provide funding for an educational facility that will enable Bahamians to pursue graduate and post-graduate level studies at recognised universities and institutions in disciplines that will enhance the country’s needs.

Mr. Gibson said the committee will initially attempt to raise $100,000 for the fund.

The scholarship monies, he said, would only be open to Golden Gates constituents.

“There are many scholarships available to students going off to school and even with the many scholarships available we still don’t have sufficient as many students are unable to attend university and in many cases unable to complete [their studies] simply because they don’t have the funding,” he said during a news conference at Bahama Grill on West Bay Street.

“So, this is really one of my pleasures that I am fulfilling in helping to establish this fund. In the first instance we want to raise $100,000 and as we continue to build on the fund we hope to put Golden Gates in the position where we can make significant scholarship contributions to individuals attending tertiary level educational institutions.”

The Golden Gates MP invited corporate Bahamas and “those with means” to assist with funding.

“We cannot depend on the government to everything and so we have decided to take the lead on this; we’re not looking for any government contribution at all. This is strictly private sector driven where we’re looking at having the private sector alone getting involved and making this possible for Golden Gates,” he said.

The committee’s chairman, Eric Gibson Jr. announced that a subcommittee has been appointed and will receive, evaluate and approve applications for financial awards.

In order to qualify for the scholarship applicants must meet established standards at the high school level, he said, and demonstrate competencies in the subjects they plan to study at advanced levels.

All applications received by March 31 each year will be reviewed and considered by the committee for the current year.

The minimum requirements are five Bahamas General Certificate of Secondary Education (BGCSE) passes at grade ‘C’ or above and proof of acceptance into an accredited institution.

Recipients must maintain a minimum 2.5GPA in order to keep the award.

Application forms are available at the committee office located on Carmichael Road and Barbuda Street.

Applicants can also call 341-2251 for further information.

In the meantime, the committee is holding its first fundraiser event, “The All White Cocktail Extravaganza” on October 19 at the Pavilion on Bacardi Road between 7:00 p.m. and midnight.

The event features a 70s theme.

Food and drinks will be provided for the entire event at an all-inclusive price or donation of $75.