London, Oct.6 : Oxford University has announced plans to raise about one billion pounds to fund scholarships and bursaries for students from poorer backgrounds, as well as teaching posts and a series of major building projects.

The campaign, which will be presented as essential to maintaining the university’s place as a world leader, will rival the efforts of Cambridge University, which in 2005 launched a campaign to raise one billion pounds, The Times reported.

John Hood, the university’s vice-chancellor, indicated that plans were well advanced this week when he gave his annual oration, noting that “inadequate funding” was stopping the university reaching its full potential.

“The principal focus of the campaign will be on the funding of existing and some new academic positions and centres, as well as scholarships and bursaries,” he was quoted, as saying.

John Dellandrea, Oxford’s pro-vice chancellor responsible for development and external affairs, said that he expected about a quarter of the money raised to go into student support.

“The idea is to ensure those who are offered places can come, no matter what their financial circumstances.” With the university now under intense pressure to widen access for the state school sector, it is essential for it to be seen to be stepping up its help for students from poorer backgrounds. (ANI)