Should the state of Massachusetts issue up to $2 billion in tax-exempt bonds to help Harvard build a new building for its economics department, renovate dormitories, and modernize the medical school dean’s office?

That is the question the board of the Massachusetts Development Finance Agency will consider in a teleconference scheduled for 1:30 p.m. on March 12, according to a hearing notice issued Monday.

That it’s even under consideration shows the pressure Harvard is under. When the university was in stronger shape, it relied on private donors to fund new buildings, or renovate old ones, voluntarily.

Now, with several large donors reportedly having cut ties to Harvard or “paused” giving because of concerns about Harvard’s maladroit response to the October 7, 2023, Hamas terrorist attack, the university is increasingly turning to the lender of last resort, the government.