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Govt, not UWI, to repay

rhondathompson, [email protected]

Govt, not UWI, to repay

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IT IS GOVERNMENT and not the University of the West Indies (UWI) Cave Hill Campus that will repay $41 million that the tertiary institution has borrowed from the National Insurance Board.
In fact, Minister of Education Ronald Jones said yesterday when debate resumed in Parliament on a resolution to approve a Government guarantee of the loan, that payments had already commenced and the university did not have to shell out a cent.
Jones sought to give that explanation after the Opposition expressed concern that the university was being asked to take out a loan to pay itself a debt owed by Government.
“The University of the West Indies received the $41 million already, spent the $41 million and the guarantee is to ensure the state itself pays that money back to the National Insurance Board,” he said.