Mr John Hume, SDLP leader, visited Waterford city yesterday to attend a £50-a-plate fund-raising dinner for the SDLP and to formally launch a credit union-sponsored John Hume Scholarship for Business Studies at the Waterford Institute of Technology (WIT).

During his day-long visit to the city he told how education was central to the re-generation of any country. A founder-member of the credit union movement in Derry's Bogside and past president of the Irish League of Credit Unions, the Nobel laureate spoke of his pride in endorsing the scholarship which will reward excellence.

Sponsored by the Waterford/ Tramore League of Credit Unions, the scholarship has already been in existence for three years and is awarded annually to the highest Leaving Certificate points-scoring student undertaking a Bachelor of Business Studies degree at WIT.

The successful student receives £1,000 for each of the four years of study.