French President Nicolas Sarkozy has announced the “big loan” program, a €35 billion ($56.8 billion) effort to increase the country’s competitiveness. French universities will receive €11 billion in funding: €7.7 billion will go toward creating between five and ten “campuses of excellence,” €1.3 billion will be used for campus refurbishment, €1 billion will be put toward creating the Saclay research plateau that will centralize research institutions, and €1 billion will be used for training. Research funding will also be available: €3.5 billion for translational research, €2.5 billion for biomedicine and biotech, €1 billion for creating “labs of excellence” and €1 billion for research equipment. Industry is slated to receive €6.5 billion, including €2.5 billion for small and medium enterprises, and €2 billion for aerospace. Sustainable development will receive €5 billion, including €2.5 billion for renewable low-carbon energy projects and €1 billion for next-generation nuclear power projects. Finally, €4.5 billion will go toward information technology. The program is part of President Sarkozy’s policy to give universities more power.

Source: Nature