Business

CDB grants UB $800,000

By Marion Ali, Assistant Editor

The Caribbean Development Bank (CDB), has allocated $800,000 from its Special Fund Resources, to grant to the University of Belize (UB) for infrastructural development.

President of UB’s Faculty and Staff Association, Harryson Flowers told the Reporter that a committee has been formed to look at the current structures that UB has in place countrywide. CDB currently has a representative in Belize to look at the finer details of what will be allocated to each project.

“We are still meeting, so proposal will be presented to CDB…we will present a full package of how the $800,000 will be spent and the finance will be disbursed in phases…The money is already there, but the way they will disburse it is on evaluation of how this money will be spent,” Flowers said.

Usually, he added, when UB submits its first proposal, the money will be disbursed for that first amount. He used as an example for part of a proposal, the fact that UB offers classes in Orange Walk for students from Orange Walk and Corozal but that the institution currently has no facility of its own in any of those two districts. Hence, he said, UB utilizes classroom space from high schools in those districts to conduct its classes and then charges its students there a rental fee.

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