Western Romania: Babeș-Bolyai University establishes endowment fund

The Babeș-Bolyai University of Cluj-Napoca (UBB) has established an endowment fund, which the institution described as a "strategic" financial mechanism aimed at supporting academic excellence and ensuring the long-term sustainability of university projects.

The initiative is a first of its kind in the local academia, UBB said.

The endowment fund involves attracting donations/financial resources and investing them to generate a constant and predictable additional income. This will be used to finance research and innovation, directly contributing to strengthening the university's mission.

"The establishment of the endowment fund represents a strategic investment in the sustainable development of UBB. Through this mechanism, the university consolidates its financial autonomy, creates the premises for attracting new sources of funding and affirms its commitment to world-class education," said pofessor Adrian Petrușel, the rector of Babeș-Bolyai University.

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