Barclays supports PACT with £5m facility to help set up new secondary school

Posted on 30, January 2013 by | This entry was posted in Banks, Education, Financial, Non Profit, Society, United Kingdom. Bookmark the permalink.

30-1-2013 — /europawire.eu/ — Barclays has provided PACT Educational Trust, the charity behind Clapham-based Oliver House Preparatory School and Oakwood School in Surrey, with a £1.6m loan to support the acquisition of a new site for its long-awaited boys’ secondary school – The Cedars, based in South Croydon. Barclays has additionally refinanced PACT’s existing £3.4m facility.

Opening in September, The Cedars is an independent school for boys aged 11 to 18. The main school building is a Grade II listed 18th century manor house, set across three acres, which will complement the school’s recreational activities. Initially opening with two Year 7 forms, the school is expected to reach its full size of approximately 350 students by 2019.

PACT Educational Trust was set up 17 years ago by a group of Catholic parents and educators to promote schools and other educational initiatives with the ethos that parents should be at the heart of their children’s education.

Steve Owen, Relationship Director at Barclays commented: “Thanks to the dedication of its management and trustees, PACT has been able to grow from strength to strength providing its students with quality teaching. This new school will take it to the next level as it looks to support its students throughout their entire academic careers.”

Ella Leonard, Chairman, PACT Educational Trust, commented: “We are very grateful to Barclays for their in-depth knowledge of the education sector and their support through this growth phase of the charity. PACT’s approach to education since opening our first school 17 years ago, is to put character development at the heart of everything we do. This is supported by a tutorial system which creates a unique level of understanding and cooperation between individual parents, pupils and teachers. With the opening of The Cedars we can now provide our vision of education for children and young people from the age of 3 to 18.”

 

About Barclays

Barclays is a major global financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management with an extensive international presence in Europe, the Americas, Africa and Asia.

With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs approximately 140,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide.

For further information about Barclays, please visit our website www.barclays.com.

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