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UVI Board Approves Loan for School of Medicine Endowment; Selects FUVI Board Member and Amends Bylaws

In executive session of a special meeting of the University of the Virgin Islands Board of Trustees held on May 4, the Board authorized UVI President David Hall, pursuant to the requirements of the Chirinjeev Kathuria gift agreement, to execute a loan to create an endowment for the UVI School of Medicine. The loan will be subsequently co-signed by Dr. Kathuria and will be paid through the proceeds of his gift. Eleven trustees voted in favor – Dr. Aletha Baumann, Dr. David Hall, Dr. Sharon McCollum, Alexander Moorhead, Nandi Sekou, Henry Smock, Jacqueline Sprauve, Patricia Steele, Edward Thomas, Sinclair Wilkinson and Dr. Wesley Williams. No one voted against the measure. Trustee Dr. Yvonne Thraen abstained from the vote. In April 2014, Dr. Kathuria made a $30 million gift commitment to help establish a state-of-the-art, Territory-wide medical school. More information is available in a news release on the Media Section of the UVI website - http://www.uvi.edu – and from this direct link.