The funding is for the construction and development of a 3 500 bed student accommodation facility. The balance of the required funding will be provided from contributions from UL, Department of Higher Education and Training (DHET), and National Treasury Budget Facility for Infrastructure (BFI). This project comprises Phase 1 of UL’s long term student accommodation infrastructure development programme earmarked to construct 15 000 beds over the next 10-15 years which is aimed at addressing long standing backlogs. “The development has synergies with existing spatial, policy, and development plans of university, local, and provincial authorities”, said Prof Mahlo Mokgalong, UL Vice Chancellor & Principal.
The development loan facility is part of the broader Student Housing Infrastructure Programme (SHIP) being rolled out by the Department of Higher Education and Training (DHET). The programme seeks to address the burgeoning housing infrastructure needs of the higher education sector. “The programme is aimed at commissioning about three hundred thousand additional student bed capacity in the sector”, said Ms Zodwa Mbele , Group Executive Transacting.
We support the Minister of Higher Education, Dr Blade Nzimande’s vision in providing safe, hygienic, accessible, and affordable student accommodation infrastructure, especially in rural and previously disadvantaged institutions, she added.
Note to Editors:
About the DBSA
The DBSA established in 1983, is a Development Finance Institution (DFI) wholly owned by the Government of the Republic of South Africa, and reports into the Ministry of Finance. The vision of the DBSA is to facilitate the creation of a prosperous and integrated resource-efficient region, progressively free of poverty and dependence. Its mission is to support regional integration and economic growth through investment in economic infrastructure and to improve the quality of life of people through the development of social infrastructure. The DBSA aims to advance its development impact on the African continent by expanding access to development finance thus effectively integrating and implementing sustainable development solutions.
The DBSA participates across the entire infrastructure value chain inclusive of the planning, project preparation, financing and implementation stages. Visit www.dbsa.org
For further information contact:
Specialist: Communications and Marketing
(011) 313 3584