News Releases

New UWI Centre to be funded by Republic Bank Ltd

For Release Upon Receipt - August 15, 2007

St. Augustine

The University of the West Indies (UWI), St Augustine Campus landscape will soon feature a new five-storey building. The new multi-level structure will house the UWI Centre for Entrepreneurship, Innovation and Wealth Creation, as well as a facility for postgraduate students, a two-storey car park and a new branch of Republic Bank Limited.

Former UWI St Augustine Campus Principal, Dr Bhoendradatt Tewarie, announced plans to erect the new building at the signing of a memorandum of understanding between the University and Republic Bank Limited. The Bank has pledged to finance the project, which is expected to cost in excess of $120 million. Construction is expected to begin in two years on 2,000 square metres of the southernmost car park of the St Augustine campus.

Plans are currently being formulated for Republic Bank Limited to fund the operation of the centre over a five-year period, although it is expected that the University will have access to and own the better part of three storeys.

The MoU was signed on the last day of Dr Tewarie’s five-year tenure as Campus Principal. Effective August 1, 2007, he assumed the post of UWI Pro Vice Chancellor for Planning and Development. Upon the departure of Dr Tewarie, Dr Bridget Brereton will serve as Acting Principal.