Macau Foundation subsidies double in 2015

The Macau Foundation (FM) granted subsidies worth MOP1.8 billion during 2015, more than double what it distributed in 2014. According to a notice published in the Official Gazette this week, the Macau University of Science and Technology Foundation received the largest share of subsidies in 2015.
The tertiary education institution received a total of about MOP295 million throughout last year, of which over 54 percent (MOP160.3 million) was only allocated during the fourth quarter of the year.
In fact, tertiary education organizations received the most funds from the FM during 2015 with several tertiary institutions topping the list of subsidies. One of these cases is the Foundation of the City University of Macau, the second most supported institution during Q4 with a total financial sum reaching MOP157.1 million.
Also during the last quarter, the Catholic Foundation of University Education (which runs the University of Saint Joseph) received a share of MOP109 million of which MOP90 million was designated for the construction of the second phase of its campus.
The report also states that the total financing for Q4 reached the sum of about MOP770 million which represents an increase of about MOP233 million when compared with the previous quarter.
The total amount granted during Q4 of 2015 represents a growth of over three times of that in 2014.  The total amount granted in the last quarter of 2014 was MOP217million. RM