The eight University Grants Committee-funded institutions have altogether secured more than $1.3 billion in donations and $1 billion under Matching Grant Scheme over the past 16 months.

Committee Chairman Dr Alice Lam said higher education is so important, but institutions should not rely solely on the Government to meet the needs of the many areas they are involved in.

Successful scheme

"The great success of the scheme just completed has demonstrated the introduction of the Matching Grant Scheme has not only brought in additional resources, but also helped to promote the culture of private donation," she said.

"I am very pleased to see the whole community helping - from donations of small amounts by individuals, to more than $10 million by major philanthropists."

She said this is beneficial to the long-term development of the higher education sector, and thanked the Government for making the scheme possible.

Matching Grant Scheme allocation results

City University ($45m), Baptist University ($79m), Lingnan University ($45m), Chinese University ($228m), the Institute of Education ($21m), Polytechnic University ($201m), University of Science & Technology ($131m), and the University of Hong Kong ($250m).

The Financial Secretary in his 2003-04 Budget Speech proposed to set up the Matching Grants Scheme. With the support of the Legislative Council Panel on Education, the Finance Committee approved a $1 billion financial commitment in June last year for the scheme, which was formally launched last July and expired on June 30.