Uni of California, Berkeley here soon College of Business to be established in Gampaha District

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By 2017-12-07

BY RATHINDRA KURUWITA

University of California, Berkeley will soon establish internationally recognized College of Business in Gampaha District and the Cabinet of Ministers has approved to provide the necessary assistance, co-cabinet spokesperson Minister Gayantha Karunathilake said yesterday.

This will be established in partnership with Higher Institute of Technology (Guaranteed) Ltd, a not for profit higher education institute established as a private public partnership.

The schools administered by the Higher Institute of Technology (Guaranteed) Ltd will be operated on a 'Need-blind basis': (simply means that an applicant's ability to pay for their education will not be a factor in the admission decision).

"Not less than 25% of undergraduates will be on full scholarships and this will provide the opportunity for the brightest students of Sri Lanka to receive a world class tertiary education in Sri Lanka, irrespective of their financial background. This will help create a highly talented resource pool that can help position Sri Lanka has a knowledge hub and be a catalyst for sustainable economic growth," the cabinet memo said.

Higher Institute of Technology (Guaranteed) Ltd., has also had discussions with Massachusetts Institute of Technology (MIT) to set up an engineering faculty. University of California, Berkeley has recommended a two stage process to set up the not for profit business school, which they expect to position as a regional hub for the Indian Ocean. For this purpose the government will grant the Institute US $ one million.

The Cabinet has also approved a proposal to grant a loan of Rs 1.1 million for students, enrolled in a four year degree and Rs 1,025,000 for students enrolled in a three year degree.

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