March 18, 2011 No. 4/11-BD CDB APPROVES TECHNICAL ASSISTANCE FUNDING FOR UNIVERSITY OF GUYANA The Board of Directors of the Caribbean Development Bank (CDB) has approved a technical assistance grant equivalent to USD250,000 for the University of Guyana (UG). The overall objective of this technical assistance project is to enhance UG's capacity to carry out its day-to-day operations, and to enhance its capacity to effectively undertake its role as a national tertiary education institution in the 21st century. Consultancy costs will be financed by the grant to enhance UG's regulatory framework and operational processes, systems and structures. The consultant will assess the effectiveness, efficiency and sustainability of the university's corporate systems and operational procedures, as well as its capacity to respond to the changing development needs of Guyana. The consultants are also expect to make recommendations on how the institution can best position itself to ensure that its activities are relevant to those needs and how they can be sustained. UG was established by an Act of Parliament in April 1963, and is the national university of Guyana.