Ottawa has created a $2 billion fund for Canadian colleges and universities to allow them to build and upgrade facilities.
The fund, dubbed the Post-Secondary Institutions Strategic Investment Fund (SIF) was announced at Western University by Innovation Minister Navdeep Bains on Thursday.
The money, which was first announced in the 2016 federal budget, will cover 50 per cent of costs for college and university building projects.
“Canada’s post-secondary institutions are front-line agents in fostering science and research excellence. They help to train the workforce of tomorrow, and create knowledge and insights necessary for the private sector and policy makers, who look to build a thriving, clean economy. These investments will create good, well-paying jobs that can help the middle class grow and prosper today, while also delivering economic growth for years to come,” said Bains, in a news release.
