At its inaugural awards ceremony on May 14, 2008, the British American Foundation of Texas (BAFTx) awarded $98,000 in scholarships to deserving students.  The event was held at the Houston Office of the Dallas Federal Reserve Bank.  Funds for these scholarships were raised through various events of the British-American Business Council Houston (BABC).  BABC events have raised close to half a million dollars over the last two years to benefit the scholarship programmes of BAFTx.  

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