Hanban provides a GBP 450,000 grant to the University of Sheffield to renovate the Confucius Institute at the University of Sheffield as a Model Confucius Institute (Linked to Record ID#44304)

Project narrative

On December 7th, 2014, the Confucius Institute Headquarters (Hanban) signed an agreement with the University of Sheffield to provide a GBP 450,000 grant for the renovation of the Confucius Institute at the University of Sheffield as part of its designation as a "Model Confucius Institute". The total budget of the project is GBP 3,858,248. Within the agreement, Hanban agrees to provide GBP 450,000, 80% of which is immediately allocated by bank transfer while the remaining 20% is allocated after the project is checked and accepted. The University of Sheffield will provide the other GBP 3,407,718 of the project and undertake the implementation of the project. Other recurrent costs and maintenance costs will be covered by the University. The University will have exclusive right to the project for at least 30 years. If the agreement is terminated, the University will refund the entire fund. The agreement stipulates that the project must be completed within 24 months of the agreement. The project renovated and added two buildings at 5 and 7 Shearwood Road to the Confucius Institute. The original Confucius Institute project -- also funded by Hanban -- can be found in Record ID#44304. The project has been completed.