Major plans

London, Oct. 6: Oxford University is preparing to launch the biggest fundraising campaign in its history, which is expected to have a target in excess of £1 billion.

The money will fund scholarships and bursaries for students from poorer backgrounds, as well as teaching posts and a series of major building projects.

The campaign, which will be presented as essential to maintaining the university’s place as a world leader, will rival the efforts of Cambridge University, which in 2005 launched a campaign to raise £1billion. Unusually, the initiative will link separate campaigns and appeals launched by individual colleges.

John Hood, the university’s vice-chancellor, indicated that plans were well advanced this week when he gave his annual oration, noting that “inadequate funding” was stopping the university reaching its full potential. “The principal focus of the campaign will be on the funding of existing and some new academic positions and centres, as well as scholarships and bursaries,” he said.