Vice-chancellor of the University of the West Indies (UWI) Sir Hilary Beckles wants the financial reliance model of the university to change, so there is less dependency on the public. He was speaking at the UWI's Meeting of University Council open session which was streamed on UWI-TV, UWI-TV's Facebook page and UWI-TV's channels on Flow on Wednesday.
During his presentation at the university’s meeting of council, he said, “We believe that it is possible in the next five years to turn around the financial funding model of this university, so that our reliance upon the public revenue will be significantly diminished, while the university itself, in its own entrepreneurial activity, would generate far more resources than it has ever done in the past.”
He explained what an entrepreneurial university would look like and how it works, saying the idea is to generate entrepreneurial interest and activity in the market economy which will yield revenue.
He said the concern right now is the Caribbean’s macroeconomic situation.
“We are hoping and wishing to contribute the best we can to a Caribbean economy that will find in the post-covid19 years more attractive levels of economic development and growth. This is what we are committed to.”
Beckles said in the midst of the covid19 pandemic and restrictions, the management and the leaders of the university did not step down, but rather, looked at the future of the university and pushed on during the pandemic.
With that in mind, he said, UWI was able to demonstrate at several levels how it had built out access to higher education in the Caribbean.
“For many decades, it was argued that the university was underperforming in the sub-region of the Caribbean known as the OECS (Organisation of Eastern Caribbean States). The OECS and the states found themselves with the lowest enrolment in higher education among young people in the region.”
He said those states were also in a financial bind, as their economy was experiencing the most “anaemic” growth. Seeing this, UWI decided to institute the UWI Five Islands Campus in Antigua and Barbuda.
Beckles also thanked the government of Antigua and Barbuda for investing in the campus.
[caption id="attachment_1013156" align="alignnone" width="1024"] UWI students at their orientation at the St Augustine campus on September 2, 2022. - SUREASH CHOLAI[/caption]
“At the end of this initial conversation, where the government of Antigua and Barbuda was able to secure an US$80 million loan on very concessionary terms from the Saudi Development Fund.”
The agreement was signed on January 17 and Beckles said Denzel Williams, principal and pro-vice chancellor, has already rolled out a master plan for the expansion of the campus featuring all the modern facilities a university should have. He added that the UWI Five Islands Campus will emerge as a state-of-the-art part of the UWI family.
“This is an excellent example of the university pushing access beyond traditional boundaries and frontiers.”
Beckles said the Caribbean faces ch
