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Tough times ahead for WMU

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06.06.2010 00:03

Tough times ahead for WMU

The IMO's World Maritime University in Malmö, Sweden is facing a financial crisis.

Tough times ahead for WMU

The IMO's World Maritime University in Malmö, Sweden is facing a financial crisis. According to the present budget WMU could face a EUR 900,000 deficit both this year and 2011. The new executive board rejected the first budget and are demanding a sustainable solution for the future financing. This will be discussed at the IMO Council meeting 7?11 June. A contributing factor to the deficit is that former donors have withdrawned their support, with reference to the current world economic situation.

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