Scotiabank has announced that the company will renew a partnership with Black Artists' Network In Dialogue (BAND) in a $450,000, three-year commitment.

The new round of funding will allow BAND to renovate spaces for art exhibits. It will also help the organization provide coaching and mentorship opportunities for artists, as well as host workshops, presentations, and speaking events.

“We would not have a permanent home without the Bank's leadership. Now we see this continue with a generous three years of financial support for our capital improvements and the increased programming to complement the increase in galleries and programming,” Karen Carter, co-founder of BAND, said in a statement.

Founded in 2010 by Carter, Maxine Bailey, Karen Tyrell, and Julie Crooks, BAND presents visual art exhibitions and hosts performing art events, talks and panel discussions to encourage dialogue on current events among Black artists, cultural workers, and the larger society.

Meanwhile, for Scotiabank, the investment is part of the company's 10-year, $500 million initiative — ScotiaRISE — to promote economic and leadership opportunities for Black Canadians.

Scotiabank recently committed to meeting the representation of Black employees in senior leadership to 3.5 per cent; the Black student workforce to five per cent or more by 2025. It has also committed $100 million in capital financing for Black startups and established businesses.

Internally, Scotiabank is part of McKinsey's Black Leadership Academy Program, an initiative focused on developing mid-level Black executives to obtain senior leadership roles.