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UGC grant results announced

September 19, 2014

Eight University Grants Committee-funded institutions, and nine non-UGC-funded institutes, have secured $5.5 billion in donations under the Sixth Matching Grant Scheme.

 

Committee Chairman Edward Cheng today announced the results of the scheme which has run since August 1, 2012.

 

"We are very encouraged to see the community has continued to respond to the Matching Grant Scheme with enthusiasm and generous support. The scheme has been successful in cultivating a stronger philanthropic culture in the community towards investment in education, diversifying funding sources and securing additional resources for the provision of quality higher education."

 

From 2003 to 2011, the Government launched five rounds of the Matching Grant Scheme, of $1 billion each, to help the higher education sector diversify its funding sources.

 

Under the sixth round, matching grants were disbursed to each institution on a dollar-for-dollar matching basis up to the "floor" amount of $60 million, beyond which $1 was granted for every $2 donation, up to a "ceiling" of $600 million of grant on a first-come, first-served basis.

 

Unlike past rounds of the scheme, which lasted for about one year, a longer duration for this round was allowed to provide more time for institutions to identify and discuss with donors as well as to give new participating institutions more time to gear up their fund-raising capabilities and networks.

 

The amount of matching funds was increased to $2.5 billion to provide more resources to improve institutions' quality of education and to cater for the increase in the duration and number of participating institutions and student beneficiaries.

 

"Over the past six rounds of the Matching Grant Scheme, institutions have raised $14.8 billion in private donations and a total of $7.4 billion of matching grants have been allocated," Mr Cheng said.

 

"Institutions have achieved very encouraging results under the scheme. We believe this will without doubt benefit the long-term development of the higher-education sector in Hong Kong."



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