India to contribute USD 239.93 mn for South Asia University

Updated on: Friday, July 03, 2009

New Delhi: The Indian Government has approved USD 239.93 million for setting up the South Asian Varsity,the first international university in the country.

The approval for the amount, which is about 79 per cent of the total cost, was cleared at a meeting of the Union Cabinet, chaired by Prime Minister Manmohan Singh.

India is ready to release the first installment of USD 9.464 million to make the university operational here from next year, Minister for Information and Broadcasting Ambika Soni told reporters.

The university was proposed by the Prime Minister at the SAARC Summit in Dhaka in 2005.External Affairs Ministry is making efforts to acquire 100 acres in South Delhi for setting up the university, she said.

The institution will impart advanced knowledge and provide facilities for research. It will be a non-state and non-profit self-governing institution, the jurisdiction of which will be extended all over India and to campuses and centres established in the SAARC region.

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