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MID – TERM BUDGET 2021 REPORT
BY THE HONORABLE JEFFREY L. LLOYD
MINISTER OF EDUCATION
Monday, March 8, 2021
INTRODUCTION
Mr. Speaker, last week, the Government of the Bahamas hosted the Meetings of the Technical Advisory Committees (TACs) of The University of the West Indies, (17) seventeen contributing governments.
The purpose of these meetings was to provide a forum for participating Government representatives to discus UWI’s bi annual operating budget.
Like everywhere and everything else, Covid19 has also impacted higher education across the globe.
Some universities have reduced staff, reduced work hours or eliminated disciplines because of Covid. Despite our country’s own budgetary constraints,The Govt decided that reduced funding to The University of The Bahamasor to UWI,our regional flagship university, is not an option. Funding in the amount of $2,125,800.00
and $15,755,719.00 has been paid to UWI and UB respectively for subvention payments up to fiscal year 2020/2021 mid-term. Additionally funding for Tertiary Grants in the amount of $7,303,458.00 and Capital funding of $139,152.55 were provided to UB.
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We have never reneged on our subventions and have fully supported our Bahamian students who are attending the University of The Bahamas and the University of The West Indies.
Mr. Speaker, the Department of Education further recognizes that much of our success is undergirded by the strength of the partnerships we have forged over the years. Partners, like the University of The Bahamas and The Bahamas Technical and Vocational Institute, have played an integral role in the success of our initiatives.
