Premier Pat Binns today announced that the Atlantic Provincial governments have signed a new funding agreement for the Atlantic Veterinary College.
Premier Binns says "the Atlantic Veterinary College Interprovincial Funding Agreement is an example of continued co-operation among the governments in the region and secures the funding for a facility that provides many direct benefits to the Island and Atlantic Canada. The Veterinary College is a first class educational opportunity for students in this region and is also a tremendous source of expertise that supports developments in the agriculture and aquaculture industries. The high regard in which the staff and students of the college are held was a benefit in securing this agreement."
Premier Binns says the agreement ensures funding stability for the Veterinary College into the next century, and he expressed appreciation to his Atlantic colleagues for their support. "It took some time to complete the agreement, especially with Provinces facing significant financial pressures, but there was never any doubt about support for the Veterinary College and the role it plays in this region. I want to thank all the officials who worked on the agreement over a considerable period of time and the Veterinary College for the business plan developed to reflect the funding arrangement."
The agreement provides funding of almost $60 million over the five-year term which also includes the current fiscal year and expires in the year 2001. It is based on a seat allocation per Province. Under the agreement, Prince Edward Island will provide 38% of the funding, Nova Scotia 32%, New Brunswick 26% and Newfoundland 4%.
In order to ensure continued funding in future years, the agreement also carries a provision that the Provinces will negotiate an agreement on future funding prior to September, 2000.