UWI’s Beckles says regional body going to capital market to raise money
(Jamaica Gleaner) - The establishment of an offshore school of medicine at the St Augustine Campus in Trinidad and Tobago is among several initiatives The University of the West Indies (UWI) will be implementing as it aggressively pursues funding on the capital market.
Vice chancellor of The UWI, Professor Sir Hilary Beckles, said other campuses, including Mona, have also been identified for profit projects, as The UWI pursues global revenues.
As the university moves to generate increased revenues, it is hoping to capitalise on recent global rankings which place it as the top university in the Caribbean and among the top tertiary institutions worldwide. A 10-point plan will be used to guide this process up to 2025.
“We are ready to take this bold historic step, of The UWI, its brand, its reputation going to the market, to the capital market to raise money for capital investment and these are for profit investments that will bring a revenue stream that is sustainable into the university, reducing our dependence on Government. The university will be entrepreneurial in the pursuit of profit. This is the transition that we have already taken and we are on the cusp of delivering upon this,” he said.
Beckles was speaking during the meeting of the University Council, the highest decision-making body of the 73-year-old regional institution. Despite intense opposition from both the Jamaican and the Trinidadian governments, he was able to retain his post as the executive head of The UWI for another five years.