Yvette Cooper, Chief Secretary to the Treasury, said the government would lend money to Building Schools for the Future (BSF) projects and other public-private partnerships. She said: "Funding will be provided from across government, including initially from unallocated funds and Departmental underspends on previous projects."
Schools minister Jim Knight also announced extra funding for the BSF programme. He said that the European Investment Bank had committed "in principle" to providing £300m for the scheme. The government also plans to accelerate other school building projects worth £919m.
Head teachers across the country will this year share an extra £390m for small building projects such as new classrooms or sports facilities. The cash will be deducted from their capital allocation for 2010/2011.
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