UWI mulls trust fund as part of measures to improve financial status

The University of the West Indies (UWI) is mulling a suggestion for it to establish a trust fund as part of measures to improve the financial status of the regional institution.

The suggestion came in a report from the UWI's University Grants Committee (UGC), which is chaired by Barbados Prime Minister Mia Mottley.

The UGC said a trust fund would allow the UWI to receive non-cash payments and donations such as lands and other physical assets from regional governments and other donors.

Mottley, in the report, argued that this would significantly improve the UWI's financial status amid plans to expand its offerings. 

"The university currently has three primary sources of income on which it relies. While it continues to strengthen its potential in these areas, it should, as it goes global, have the ability to receive gifts of land and shares from Governments and individuals (especially graduates) to add to its corporate endowment programme," said Mottley.

"If this is ultimately agreed to by the University Grants Committee, the university should use the establishment of this trust to ensure that it can hold faith with its original mandate 70 years ago and keep the fees paid by Governments and students at an affordable level," she added.

In response, UWI Vice-Chancellor Sir Hilary Beckles said the suggestion was transformational and that "the path discussed and agreed would lead to a new era in the history of the university".

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