Campaign reaches £1 billion

University 29 Oct 10 Oxford University's international fundraising campaign has reached the milestone of one billion pounds in record time and despite the global financial crisis. Oxford's Vice-Chancellor, Professor Andrew Hamilton, called the generosity of donors "fundamental to Oxford's future" in a time of reduced government funding. Oxford Thinking: The Campaign for the University of Oxford is the largest fundraising campaign in European university history and one of the largest in the world, with a goal of a minimum of £1.25 billion to support world-class teaching, research and facilities. Fundraising began in August 2004 and the official launch of the Campaign was in May 2008 at which time £575 million had already been raised. Professor Hamilton, the Vice-Chancellor, said: 'For almost half of the six years that Oxford has been raising funds for the Campaign, the world has been in an economic downturn - yet our alumni and supporters have continued to give. In the last year alone we have raised more than £230m. Their generosity, which is a huge vote of confidence in Oxford, is fundamental to Oxford's future at a time when government funding is so stretched.