The University of Guyana (UG) has been gifted land and property in Berbice by a family to establish a perpetual bursary to support financially-challenged students.

The land and property, which UG has called the “first major philanthropic gift by an individual private family,” was received from Mrs Rajdai Elizabeth Outar, a Guyanese now living in Scottsdale, Arizona, in the United States. It is said to be worth $5 million.

According to a statement issued yesterday by UG, the gifted property is expected to be developed or liquidated and the funds are to be invested within two years of the passing of the property to the university. Thereafter, it explained, up to 30% of the monies will be used in perpetuity to fund the Rajdai Elizabeth and Seobarran James Outar Bursary on an annual basis…..