ACE Life funds $103,000 Thanh Hoa school rebuild

March 30, 2015 | 10:00

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ACE Life, the global life insurance division of ACE Group, last week commenced the $103,000 rebuilding of Yen My Primary School (Zone B) in the north-central province of Thanh Hoa’s Nong Cong district.

This is the sixth school building project funded by ACE Life in the past six years and the first project jointly supported by ACE Life and ACE Foundation - International.

The primary school was built in 1978 and has been seriously degraded due to the severe impact of frequent flooding in the rainy season.

Since most of local residents rely on agriculture, many are poor and there is little local funding available to rebuild the school.

With the financial support from ACE Life and ACE Foundation - International, the new building will be built in a new and safe location to national standards. With two floors and six classrooms, the new building will offer adequate rooms and facilities to meet the basic learning needs of 200 local pupils. In addition to education, the school can also serve as a safe shelter for approximately 300 local residents in the event of flooding.

The construction is expected to be completed in six months and inaugurated at the beginning of the new school year 2015-2016.

“Providing a good education for our children is critical and building quality schools is one step in the right direction. We will continue to fund the rebuilding of other schools as a testament to our investment in the future,” said Lam Hai Tuan, chairman and country president of ACE Life in Vietnam.

Prior to its collaboration with ACE Foundation - International on this project, ACE Life sponsored the rebuilding of five schools in the past five years through the charitable Crossing Waves Fund established in 2005.

Apart from funding school rebuilding projects in impoverished provinces, the fund has also sponsored over 1,200 scholarships for underprivileged university students. To date, the fund has contributed approximately VND15 billion (nearly $700,000) to school building projects and scholarships.

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