A Colombia development agency on Wednesday approved more than $28 million for higher education projects in central Colombia.
Findeter, a financial development agency linked to the Colombian ministry of finance, will invest the money to improve the quality of education in the central Colombian department of Caldas, according to a statement issued by the ministry.
“The support for universities is one of the priorities on which [the agency] focuses and promotes within its Competitive and Sustainable Cities initiative with the goal of [supporting] high quality higher education. With this line of credit and future investments, we seek to contribute to a better learning environment through the adaptation of infrastructure, modernization of technology [adding to] the current strength of universities, ” said Findeter chairman, Luis Fernando Arboleda.
Regional politicians and university presidents met recently to approve the terms of a more than $112 million line of credit that will fuel development initiatives that focus on Colombian universities, including construction and research projects.
During his term in office, President Juan Manuel Santos has allocated roughly $251 million in government funds for education. In 2012, the goverment spent $101.4 million on education.