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UGC welcomes Budget proposals

The following is issued on behalf of the University Grants Committee:

     The Chairman of the University Grants Committee (UGC), Mr Edward Cheng, today (February 1) warmly welcomed the Financial Secretary's proposal in the 2012-13 Budget to allocate $2.5 billion to launch the Sixth Matching Grant Scheme in the post-secondary education sector.

     Mr Cheng said, "The UGC welcomes this initiative by the Financial Secretary.  We are very encouraged to see that the community continues to respond to the Matching Grant Scheme with enthusiasm and generous support.  Considering the success of the previous five rounds of the scheme, we are confident that another round will help sustain institutions' momentum in securing private donations and other sources of funding to support their growth.  Through this enhanced and extended scheme, the generosity of donors will be recognised and multiplied.  Furthermore, with a commitment to a larger capital fund, institutions will enjoy greater certainty that their partners who give generously will be acknowledged and rewarded by the scheme.

     "I believe that the philanthropic culture of the community towards investment in education is more mature and embedded now than in 2003 when the Scheme was launched.  Institutions should be able to fare well in securing more funding for the benefit of its students."

     Mr Cheng was also very pleased to note that the Budget has injected $1 billion into the HKSAR Government Scholarship Fund to establish more scholarships or award schemes for outstanding students.

     "I am very glad that more students will be able to benefit from the scholarship fund.  This worthwhile initiative can help foster the development of Hong Kong as a regional education hub," he said.

Ends/Wednesday, February 1, 2012
Issued at HKT 18:45


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