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Oxford launches huge fund-raising scheme

Posted on 28th May 2008

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This week the University of Oxford launched the biggest fund-raising bid ever to be undertaken by a European institution of education.

The university aims to raise £1.25 billion in order to make it a level competitor for the Ivy League universities in America, the Guardian reported after seeing leaked details.

Patrons of the university including David Cameron and Lord Patten have pledged support to the campaign by either donating or raising money or allowing their names to be used.

Money raised will go towards rebuilding the institution to give it a size that rivals Yale and Harvard. A new campus, library and further accommodation are all among the planned building works.

Around £575 million has already been raised for the project by donations. Billionaire Wafic Said has donated £25 million to go towards expanding the onsite Said Business School.

John Hood, the first vice-chancellor of the university to be selected from outside the academic body, will not be renewing his five year term and is set to leave next year.
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