$495,000 pledge will help advance Rainbow Railroad's mission of providing necessary funds for direct assistance to LGBTQI+ people in need globally

TORONTO, Oct. 27, 2022 /CNW/ - Scotiabank and Rainbow Railroad, an international LGBTQI+ rights organization based in Toronto and New York, are thrilled to announce a three-year partnership to help provide direct assistance to LGBTQI+ people in need globally. The $495,000 investment will also support Rainbow Railroad as it develops partnerships with like-minded organizations both at home and internationally - including in the countries where Scotiabank operates.

Scotiabank Logo (CNW Group/Scotiabank)

Scotiabank's financial support will be directed towards settlement support and strengthening the ecosystem of partner organizations around the world that defend the human rights of LGBTQI+ people. Individuals supported through this program will receive direct support in countries of origin where they're experiencing persecution, as well as post-evacuation support in Canada, the UK and the United States.

Currently, there are approximately 70 countries that have laws criminalizing same-sex activities and in many others, LGBTQI+ people face persecution on the basis of their identities. Often their only option is to flee.

At a time when there are more displaced people than ever before, LGBTQI+ people are uniquely vulnerable due to systemic, state-enabled homophobia and transphobia. These factors either displace them in their own country, or prevent them from escaping harm. The demand for support has significantly increased and has outpaced society's ability to meet. In 2021, 8,506 individuals reached out the Rainbow Railroad for help – 100% more than in 2020. This year, Rainbow Railroad is expecting to receive 10,000+ requests for assistance. These needs are urgent and emergent, and investment could mean the difference between life or death.

"We are proud to support Rainbow Railroad as they help LGBTQI+ individuals facing persecution around the globe safely relocate and resettle," said Meigan Terry, SVP and Chief Sustainability, Social Impact and Communications Officer. "Through ScotiaRISE, we are investing in programs and organizations that assist newcomer settlement and break down barriers facing disadvantaged groups, while doing our part to create a more inclusive world."

Scotiabank's community partnership with Rainbow Railroad is enabled by ScotiaRISE, the Bank's 10-year $500 million initiative to promote economic resilience among disadvantaged groups. ScotiaRISE is fostering sustainable change by partnering with programs and organizations across its footprint that provide the tools people need to improve their education and employment prospects, adapt to changing circumstances, and increase the likelihood of financial success. ScotiaRISE has supported nearly 200 charities, deployed $26 million in community investments globally in its first year, and continues to invest in community initiatives that are making a difference.

"We are incredibly grateful for, and inspired by, Scotiabank's commitment to LGBTQI+ communities around the world," said Kimahli Powell, Rainbow Railroad's Executive Director. "Thanks to the funding from the Scotiabank, we will be able to support more people in finding the freedom to live openly and without fear, while also providing the support needed within their communities."

"Our partnership with Scotiabank will help our program officers respond to the increasing volume of requests that we receive and will ensure that we provide support to a record number of individuals," explained Powell. "We are excited by the prospect of a long and impactful partnership with Scotiabank that will help us to help more people find safety."

Scotiabank has supported Rainbow Railroad's work since 2019 and the financial institution's multi-year commitment builds on their $125,000 leadership gift in 2021.

About Rainbow Railroad
Rainbow Railroad is an international charitable organization with headquarters in New York and Toronto that helps LGBTQI+ people seeking safe haven from state-enabled violence and persecution in countries where same-sex intimacy and diverse gender expressions and sex characteristics are criminalized. Rainbow Railroad is a registered Canadian charity and 501(c)3 organization in the USA.

About Scotiabank 
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of over 90,000 employees and assets of approximately $1.3 trillion (as at July 31, 2022), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @Scotiabank.

Rainbow Railroad logo (CNW Group/Scotiabank)

SOURCE Scotiabank

Copyright 2022 Canada NewsWire

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