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Giller Prize splits with long-time sponsor Scotiabank after more than a year of protests

The Giller Prize, Canada’s most prestigious fiction award, has announced that it is parting ways with its lead sponsor, Scotiabank. This decision comes more than a year after members of the literary community began protesting the bank’s ties to an Israeli arms manufacturer.

The Giller Foundation, which administers the annual prize, confirmed that its relationship with Scotiabank officially ended on Monday. While the organization did not provide a specific reason for the split, it expressed gratitude for the bank’s support over the past 20 years. Scotiabank’s partnership had helped increase the prize pot to $125,000, with $100,000 going to the winner.

The controversy surrounding Scotiabank’s sponsorship came to a head at the 2023 Giller ceremony when Pro-Palestinian activists disrupted the event with signs accusing the bank of funding genocide. Following the incident, several authors and literary figures spoke out against Scotiabank’s subsidiary’s investment in Israeli arms manufacturer Elbit Systems.

At the time, Scotiabank held a significant stake in Elbit Systems, a company known for its weapons technology used in conflict zones such as Gaza and the West Bank. The bank’s ties to the arms manufacturer sparked widespread criticism within the literary community, leading to calls for a boycott of the Giller Prize.

As pressure mounted, authors began withdrawing their works from consideration for the award, and some even demanded that their names be removed from promotional materials. In response to the backlash, the Giller Foundation decided to sever ties with Scotiabank, signaling a new chapter for the prestigious literary prize.

Moving forward, the Giller Foundation plans to explore new opportunities and collaborations to support Canadian literature. While Scotiabank declined to comment on the split, it has reportedly reduced its stake in Elbit Systems multiple times since 2023. Executive director Elana Rabinovitch expressed optimism for the future, stating that the foundation looks forward to “an exciting new era” for the prize.

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