Bill and Weslie Janeway donate $27 million to the Faculty of Economics and to Pembroke College.

American husband and wife philanthropists are to make a multi-million pound gift to the University of Cambridge to enhance the teaching and research of its prestigious Economics Faculty.

Bill and Weslie Janeway have agreed to donate $27 million (£17.5 million) to the Faculty of Economics and to Pembroke College.

The proposal, which will go for approval by the Regent House, the University’s governing body, later this month, is to establish the Janeway Professorship of Financial Economics within the Faculty, with a linked Fellowship at the College, and to establish the Janeway Fund for Economics. The Fund will provide support in perpetuity to an Institute for fundamental research in economics. This Institute will provide funding for postdoctoral fellows, doctoral and research students, visitors and international conferences. See more at Major Gift for Cambridge Economics research