BRIDGETOWN, Barbados — Vice-Chancellor of the University of the West Indies, Professor Sir Hilary Beckles is appealing for full ownership of land leased to campuses due to a decline in government contributions to the institution’s operational budget.
According to the Vice Chancellor , land ownership is vital to the university’s long-term financial plan, and this will allow the UWI to diversify its revenue streams .
“All we’re asking now is to untie our hands. Transfer these lands on which we operate to the university freehold so we can have that asset value on our balance sheets. We can go to the banks, we can go to the private sector, we can enter into commercial operations, and we have some collateral to create some diversity of financial arrangements for our longer-term sustainability,” Beckles said..
Speaking at a recent council meeting in Trinidad and Tobago, he disclosed that _contribution of regional governments to the university’s operational budget has dropped to less than 50 per cent.
He disclosed that for the past 77 years, UWI campuses have operated on leased lands, albeit at minimal cost, but said it is time for a more progressive arrangement.
In contrast, he highlighted the model used in North America, where many universities benefit from “land-grant” systems, receiving land from the government at the time of their establishment.
.“We have done the heavy lifting,” he said. “We have taken this university from a small little university to a global elite university as proof of our responsibility, as proof of our intergenerational leadership. We have demonstrated evidence overwhelmingly that we can manage our affairs.”
The vice chancellor revealed that UWI has already written to regional governments on the matter and remains open to collaborative arrangements where the countries maintain some level of input.
