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Business Update
29 June 2020
Type
Written Ministerial Statement
Department
Department for Business, Energy and Industrial Strategy
At a Glance
Issue Summary
The UK government is announcing a package of support for universities impacted by income losses due to the COVID-19 pandemic.
Action Requested
The Government is providing £280 million in funding for grant extensions and low-interest loans with long pay-back periods, supplemented by small grants, covering up to 80% of income losses from international students for the academic year 20/21. Universities will need to demonstrate that funding is spent on sustaining research activity.
Key Facts
- £280 million government funding available for universities and research organisations.
- Government will provide low-interest loans with long pay-back periods, supplemented by small grants from Autumn.
- Up to 80% of income losses from international students covered in the academic year 20/21.
- Funding is targeted towards sustaining research and innovation activity, focusing on STEM research.
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Assessment & feedback
Summary accuracy