Scholarship Awards - 2009

After some unavoidable delay in transferring Canadian Tsunami Disaster funds to Sri Lanka, the scholarship program has commenced with the selection of 26 applicants to receive monthly grants. However as a result of some recipients not filling the appropriate forms correctly, only 23 have so far been cleared. Arrangements have been made to disburse their grants with effect from 1st Aug. 2009.

Though it was the original intention of the Foundation to award scholarships proportionately among the six Districts, it was not possible to do so because there were no sufficient number of qualified applications from some Districts.

Scholarship Certificate Awarding Ceremony

An elaborate ceremony was held on 30th August 2009 at Jayasumanaramaya, Goviyapana, Ahangama, Sri Lanka, presided by the president of The Foundation, Ven. Ahangama Rathanasiri Thero to present Scholarship Certificates to 14 recipients. Although all the recipients were informed of the ceremony, only 14 were able to attend the ceremony. Two of these recipents have travelled all the way from Batticaloa with their parents and stayed overnight at Goviyapana. The ceremony was graced by a Sri Lankan Government Minister. Please click here to view a sample of the certificate.

Scholarship Grants affected by lowered Sri Lankan Bank Rates

Toronto Mahavihara Foundation Scholarship Program depends on the interest income earned from funds invested in Sri Lanka. Recent downward trend in the Sri Lankan Bank interest rate has severely impacted our recurrence project funding. To continue the number of grants awarded for the year 2009 without reduction, Foundation Administration Board has decided to float the monthly grant based on the interest income generated during a given quarter.

As such, the recipients will receive the monthly grant of 2000SLR for the first three months period (August - October, 2009), but likely to receive a lesser amount during the next three months. Future grant amount will vary based on the prevailing interest rate. Board will continue to monitor the situation and will take every effort to award the maximum (up to 2000SLR) whenever possible.