Colleges across Scotland will benefit from £5 million additional funding for improving campuses next year.
This investment will help to ensure that college students benefit from a better learning environment with buildings that meet their needs.
Education Secretary Michael Russell said:
“This investment will directly benefit Scottish students with improvements planned at a number of college estates. Creating the very best educational environment supports the highest quality learning and teaching and will make a difference that will pay dividends for many years to come.
“These funds – part of the wider £19 million funding for further and higher education in 2013-14 and 2014-15 – along with our planned £300 million investment in college estates through the innovative Non Profit Distributing model, will help to ensure that we address the pressing maintenance needs of the college estate, and ensure that it is fit for the 21st century.
“Our colleges have built close working relationships with local businesses which will be enhanced further, with these projects providing an economic boost.”
The Non Profit Distributing financing model was developed and introduced as an alternative to and has since superseded the traditional Private Finance Initiative (PFI) model in Scotland. The model aims to eliminate uncapped equity returns and limit these returns to a reasonable rate, set through competition.
The funding is part of the £205 million package of construction and maintenance projects to begin this year announced by Finance Secretary John Swinney in December.
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