Scholarships, creating green spaces among plans for UG Foundation
The University of Guyana Foundation was on Tuesday launched to achieve supplementary funding to help the tertiary learning institution achieve long terms goals. Governed by a Board of trustees, the aim of the Foundation is to invest in green spaces at the University’s campuses and provision of scholarships among other projects.
Challenged with limited financial resources, the Universal of Guyana Foundation was on Tuesday launched to help the institution raise funds to take on major challenges.
According to Vice Chancellor of the University, Professor Paloma Mohammed-Martin,
67% of the sums needed to develop the university over the next three to four years will be sourced from areas other than tuition fees and the Government.
She explained that $11B is needed to fund the University projects and programmes while only $3.5B was provided in the national budget.
The virtual launch also saw presentations from the various Trustees who will manage the fund and Minister of Education, Priya Manickchand.
In her presentation, the Education Minister noted that the foundation will help the tertiary institution to achieve its strategic objectives.
The Foundation which has already received its first donations, will be working towards the creation of green spaces on campus, sport facilities, sustainable housing for students and provide scholarships to vulnerable students.
Efforts will also be placed on modernising essential systems and services and accelerate Innovation through Centres of Excellence and Research Institutes.
The University Council in June 2018 approved the establishment of the Foundation, based on a proposal by then Deputy Vice-Chancellor, Professor Mohamed.
The University of Guyana Foundation was incorporated in November 2021. Its function is differentiated from that of the Office of Philanthropy Alumni and Civic Engagement (PACE) which helps to set and achieve the institutional immediate operational fundraising targets for the University.
Whereas, the UG Foundation is focused on creating a substantial long-term endowment fund for the University which UG has never had.
