The Tribune

By RASHAD ROLLE

Tribune News Editor

rrolle@tribunemedia.net

THE Davis administration will invest $12m to help the University of The Bahamas gain long-sought accreditations.

The administration will also devote $8m to upgrade the Bahamas Technical and Vocational Institute.

The total of $20m will be sourced via external funding, Prime Minister Philip “Brave” Davis said during his budget communication yesterday.

UB has been seeking various accreditations for years. In January, its acting president, Jayne Hodder, said it was undergoing an audit as it sought accreditation through the National Accreditation and Equivalency Council of the Bahamas, America’s Southern Association of Colleges and Schools, the European Union, the United Kingdom and others.

Delinquent financial audits have been one obstacle preventing the college from getting accredited.

In 2015, The Tribune revealed that poor, out-of-date audit practices at the college prevented the institution from accessing funds from a $16.1 Caribbean Development Bank loan designed to upgrade the institution. The loan was eventually abandoned. At the time, the college was at least four years behind in audits, and it had been seven years since an audit for the institution had been last tabled in the House of Assembly.

Last year, UB said it is nearly current with audited financial statements.

“Moving forward, the university will be completing its audits within the normal framework for reporting, which is three to six months after the end of each fiscal year. As we build a strong institution that plays a pivotal role in national development, we continue to benefit from the profound trust and support of our donors,” UB said.