Education Minister Jerome Fitzgerald said in the House of Assembly yesterday that reappointed College of The Bahamas (COB) President Dr. Rodney Smith will be paid "exactly the same" salary as the previous president.
"Dr. Smith's salary is exactly the same as the previous president and his benefits are exactly the same, save that he requested a housing allowance instead of the using the house COB has rented for presidents for the past 10 years, and Council agreed," he said during debate on the resolution to borrow $16.18 million to fund the University of The Bahamas Transformation Project.
"The three-year term was also agreed with a two-year option."
Former COB President Dr. Betsy Vogel-Boze made around $150,000 a year.
Smith came under fire last week after The Guardian revealed that he was asking for a $400,000 annual salary.
Smith, who was president of COB between 2004 and 2005, left amid a plagiarism scandal. He re-assumed office yesterday.
As it relates to the resolution, Fitzgerald said the money will be used to fulfill crucial elements of COB's master plan which will determine the physical space needs of the college and assist COB with fulfilling its obligations to attain university status.
"The establishment of the University of The Bahamas will be a defining moment in the annals of Bahamian history," he said. "This resolution today to borrow $16,180,000 from the Caribbean Development Bank is an important piece of the puzzle."
COB is expected to transition to university status by July 2015.
Fitzgerald said COB has identified a number of priority areas for development, including the rehabilitation and expansion of its facilities.
He said the loan comprises five components. However, Fitzgerald said the project's main focus is enhancing the capacity of COB to provide quality tertiary education.
The college also intends to enhance its learning environment by expanding and upgrading the physical facilities, he said. A part of that plan will be to design and construct halls of residence to accommodate approximately 100 students and the construction of the business center.
Fitzgerald said COB will also enhance and rehabilitate the Keva Bethel Administrative Building, the Hotel Training College and upgrade the security system.
Fitzgerald said the loan would also help to fund an improvement to service delivery.
Specifically, COB will seek to provide increased access to underserved communities in various Family Islands. Fitzgerald said enrollment in the Distance Learning Program is expected to double by 2017.
The college will also upgrade its technology in centers in Andros, Exuma, Abaco, Eleuthera, Long Island, Bimini, San Salvador and Cat Island.
He said the college would also develop eight online courses.
Finally, COB intends to improve governance and management.
Fitzgerald said that component will support the institutional enhancements needed to facilitate the transition to university status and improve the institutional framework for governance, effective management of the institution and quality assurance.
Fitzgerald said the government will table legislation to establish the University of The Bahamas before the end of next year.
"There is still a lot of work to do," he said. "We are at the implementation stage where the heavy lifting is. Reform and accountability are setting in. We intended to raise the academic bar, close the achievement gap and instill confidence in our education system."

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