UB Launches an Endowment Fund

The University of Belize handed out five bursaries today through its Endowment Fund Bursary. The fund was officially launched today. President Clement Sankat announced that its first fundraising effort held last year with the support of corporate sponsors, will provide bursaries for five UB students.   The first of its kind initiative is to help the university raise much needed monies for multiple projects.  Here’s how Sankat explains the reasoning behind the establishment of the fund and how it will help the recipients.

Clement Sankat

Clement Sankat, President, University of Belize

“At the University of Belize, that is our main source of support from our students and our parents, almost fifty-fifty. But in good universities that are progressive, you have another source of funding which is an endowment fund which is created outside of government and tuition income and gives the university flexibility many things it wishes to do. One of the most important, of course, is to support students through university through scholarships, bursaries, grants of one kind or another. That is one intent, but endowment funds are also used to do other things like to support meaningful, impactful research that could influence the development of Belize; that can help business to become more creative and innovative. Then there is the third element, used often by these funds, that is to create infrastructure. At the University of Belize, we have no capital funding.  This event this morning is a promise that is being kept. Our wonderful sponsors gave us some support. We made a small profit and out of that five of our students are being rewarded. This reward comes of the generosity of the sponsors and all the three-hundred plus persons who came to the fete and bought a ticket, because that money is going to these students.”

Rocio Calderon

Rocio Calderon, Scholarship Recipient

“I am very happy because I have been working very hard; my second semester and I am going into my third. My GPA is very good, so I am very happy that I received it and I am very thankful to the sponsors because without their contributions this wouldn’t be possible. So, I am thankful and appreciative and hope that I continue receiving it.”

Maria Chun

Maria Chun, Scholarship Recipient

“It is a one year scholarship. It covers only twelve credits, so it is like four courses. It is for one year but the scholarship could be offered again if you maintain a good GPA.”

The University of Belize will be hosting a grand fete in September to benefit the Endowment Fund.