Saudi prince gives $16m to Cambridge University

Saudi Prince Alwaleed Bin Talal has given Cambridge University £8 million (16 million dollars) to establish an Islamic studies center, press reports said on Sunday.

Alwaleed donated the cash to the university, located in Cambridge, England, to fund a center in his name for the study of the role of Islam in the Middle East and globally, UK daily The Telegraph reported.

A formal announcement from Cambridge, one of the world's oldest and most reputable universities, is expected in June.

Alwaleed is ranked in the top 20 richest men in the world, with an estimated fortune of about 29.5 billion dollars.

A renowned philanthropist, the prince earlier made two donations of £10 million to establish Islamic studies centers at U.S. universities Harvard in Massachusetts and Georgetown in Washington, the Telegraph reported.

He also gave £10 million to fund an Islamic art wing at the Louvre Museum in Paris.

Kingdom Foundation, his Riyadh-based charity, has earmarked 200 million dollars for projects aimed at improving understanding between the West and the Islamic world.