THE Bank of Nova Scotia (BNS) Jamaica Limited has donated $5 million to the Northern Caribbean University (NCU) Endowment Foundation, which was launched recently (November 27) at the Hilton Kingston Hotel.
Mr. William Clarke, Managing Director of BNS officially launched the Foundation and presented the Bank's donation to NCU president, Dr Herbert Thompson at a banquet, which was attended by some 500 alumni, staff and well wishers of the university. "NCU has gone through years of transition (and) it is now at a point to make a quantum leap," said Mr. Clarke in announcing the bank's donation. He urged corporate Jamaica to support Northern Caribbean University in this "bold venture". Mr. Clarke disclosed that BNS was also contributing US$75,000 to establish a community-based computer centre, in collaboration with NCU, in Mandeville.
The 84-year old institution, which is owned and operated by the Seventh-Day Adventist Church, is seeking to raise funds to implement a US$50 million 10-year plant expansion programme. This expansion programme, according to the administration, is in response to the rapid growth of the institution since its upgrading from college to university status four years ago, during which period student enrolment quadrupled to 5,300.
During Thursday's endowment banquet, Education Minister, Hon Maxine Henry-Wilson announced the implementation of interim measures to grant NCU tax-exempt status on its purchases -a privilege enjoyed by other tertiary institutions. She said the measures were pending the passage of legislation to grant the university permanent tax-exempt status.
