Israel to Invest More than $123 Million in Research Universities

The Israeli Council for Higher Education announced it had approved an investment of $123 million (NIS 458 million) to fortify research programs in Israeli universities. The money will be invested over a five-year period, $24.7 million (NIS 92 million) each year. The planned investment is 83% larger than the resources allocated as part of the previous five-year plan, which was based on an annual investment of $13.4 million (NIS 50 million). As part of the new plan, benefiting institutes will be required to match 25%-50% of the investment. 90% of the funds, some $110 million (NIS 411 million) will be used for lab equipment.