UPEI medical school costing more than original estimate
CBC
The provincial government has substantially increased its commitment to UPEI's new faculty of medicine.
When the plans were announced in 2021, the province committed to almost $130 million over six years.
But Greg Keefe, UPEI's interim president and vice-chancellor, said it became clear they'd need more money for a bigger building, which could also benefit other programs such as nursing, paramedicine and veterinary medicine.
"It's a very integrated program with nursing, with the nurse practitioners, with the psychology program, with paramedicine and so all that helped grow the footprint as well as modern education in medicine involves a lot of simulation technology which is used … not just for med students but also in all those other programs," said Keefe.
The money announced in 2021 over six years included $50.7 million for infrastructure, $66 million for operating the new faculty of medicine, nearly $6 million for the expanded faculty of nursing, and $6.5 million for the health and wellness centre.
According to the province's consolidated financial statements for this fiscal year, $72 million was provided to the university to build the new faculty of medicine, in addition to the $50 million already planned for this year, bringing the total one-year contribution to $122.7 million.
The $122.7 million coming from the province will allow the university to secure a loan for the building, and will cover $80 million of the cost, plus estimated interest over a 20-year period.
This is on top of the $78 million the province has earmarked for operations.
The target to welcome the first class of med school students is the fall of 2024.
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