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Israel Institute of Technology Reported in Financial Difficulties

The Board of Governors of the Technion-Israel Institute of Technology indicated today that the total of new undergraduates and graduate students at the Institute would be frozen at this year’s level of 800 for the next academic year.

The indicated reason was a “critical financial situation.” The board approved a 19,900,000 pound ($6,630,000) operational budget for the year and another 10,600,000 pounds ($3,530, 000) for development. Construction of an additional 16 buildings was envisaged during the next four years. The Institute’s accumulated deficit was listed as 6, 000, 000 pounds ($2,000, 000).