Turkey to donate huge fund to MIT

ISTANBUL - Hürriyet

Industry Minister Ergün present a gift to MIT Assistant Dean Philip Khoury during his visit to the MIT campus to discuss giving a donation to the university. AA photo

Turkey is preparing to donate $10 to $20 million to the Massachusetts Institute of Technology (MIT) Foundation, Minister of Industry and Commerce Nihat Ergün said.

“In order for the ministry to be able to make this donation, the Parliament will have to pass a new law.

In return, MIT will also be offering Turkish as an elective course and will be establishing a Turkish research foundation,” Ergün said to daily Hürriyet. Turkish professors will also be able to conduct research at MIT and will be eligible to receive training at the prestigious American university.

Ergün visited the MIT campus as part of his trip to the United States and met with Assistant Dean Philip Khoury to discuss both the donation and joint programs between the university and Turkey.

while the exact amount of the donation was not clear as of yet, a starting figure of $10 million was being discussed, Ergün said.

“Our donation will be in two parts, $5 million will go towards master’s programs and Ph.D students. The remaining $5 million will go toward finance research projects. Depending on the amount of students and researchers we want to send to MIT from Turkey, we will put in $10 million or even $20 million if necessary,” Ergün said.

China has donated $17 milllion to MIT

Ergün explained that countries like Brazil, China, Singapore and Egypt had invested in MIT and that China had invested as much as $17 million. Ergün believed the new law will be passed this year to facilitate the donation and said MIT had already accepted Turkey’s proposal.

In terms of donations received, Harvard University takes the lead having recieved $32 billion. The MIT Foundation uses the donations to provide resources for academicians, education, research, investment projects and financial aid to students. Of the 10,984 students enrolled in MIT’s 2011-2012 academic year, some 92 percent received some form of financial aid.