The Jarislowsky Foundation is donating $2 million to Western University.

The gift, to be matched by Western, will establish the Stephen A. Jarislowsky Chair in Central Banking in the Department of Economics.

The aim of the Chair is to encourage excellence in teaching, mentorship and research in central bank policy and decision-making.

The Jarislowsky Foundation was created by Canadian businessman Stephen Jarislowsky in 1991 and has established 29 chairs across Canada.

“Our main aim and focus is excellence. We try to do things in areas which make people in our age think,” Jarislowsky said in a news release. “This chair was designed to make people think about central banking. Central bankers have achieved an enormous influence on the lives of all kinds of countries. I hope this chair will lead to better central bankers, better government and better handling of finance around the world. That is a big objective.”