Oxford University Chancellor refers to a 75 million pound grant as a once in a century opportunity; how should one refer to a $1 Billion donation
Following is an excerpt from a report in NDTV.com.
The school, launched in Oxford last evening, has been supported by several world leaders and a 75 million pounds grant by American industrialist and philanthropist Leonard Blavatnik.
… The University is contributing an additional 26 million pounds as well as land in the Radcliffe Observatory Quarter, where the School will be located.
The school will provide a highly practical series of courses, leading to a Master’s degree, with a unique balance of the humanities, social sciences, law, science, technology, health, finance, energy and security policy.
The first students will start in 2012 and student numbers will increase to approximately 120 within the next few years.
Lord Patten, Chancellor of the University of Oxford, said, “This is a once-in-a-century opportunity for Oxford.
75 million pounds is $117.15 million in today’s rate. Contrast this to Vedanta University for which the pledged amount is $1 Billion. While Oxford is calling this grant a once in a century opportunity and is chipping in 25 million (one third the grant) as a matching amount many in Orissa and India do not see the value of a $1 Billion donation and instead of helping its establishment people ascribe all kinds of motives. This attitude of many people of Orissa is exactly why Orissa is at the bottom of everything.
9 comments September 20th, 2010