UGC seeks ADB, WB funding for Science, Technology and Engineering faculties
View(s):The University Grants Commission (UGC) is expecting Asian Development Bank (ADB) and World Bank (WB) funding of up to Rs 20 billion to establish new Science, Technology and Engineering faculties in universities that do not have the facilities.
Discussions are underway with the two lending agencies.
A senior Treasury official said they were expecting the funding to be available by early next year. He said the current economic stability has been useful to obtain the facility.
Funding has also been sought from the Kuwait and Saudi agencies for the same project.
Meanwhile, UGC Chairman Prof Sampath Amaratunga said the new Engineering Faculty of the University of
Sri Jayewardenepura will be declared open shortly. A total of USD35 million has been spent on this project. He said they hope to have an intake of 500 students by next month.
A Technology Faculty at the Sabaragamuwa University built at a cost of USD 35 million was declared open recently while a similar facility will be set up at the University of Kelaniya.
The new buildings will have quality equipment in keeping with international standards, he said. (DWI)
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