Schools will be given two chances a year to win a slice of hundreds of millions of dollars for projects promoting quality education, it was announced yesterday.
The Quality Education Fund Steering Committee said the first call for applications for innovative programmes would be made early next month and the second between September and October.
Committee chairman Irving Koo Yee-yin promised there would be no quota for the projects approved, nor would there be a ceiling on the cash awards.
But schools where project targets were not achieved would have the money withdrawn.
'We will monitor the schools and make sure public money is not wasted. For instance, schools may be asked to submit interim reports to us every half year.
'And the money may not be granted one-off. It could be given in instalments,' added Mr Koo.
The fund was recommended last year by the Education Commission. Chief Executive Tung Chee-hwa backed the proposal and allocated $5 billion to the fund.
Mr Koo said an investment committee had been set up which could generate hundreds of millions of dollars as interest each year to fund projects.
Other educational bodies were also asked to apply to the fund and the commission also suggested outstanding teachers and schools be given bonuses.