Universities in Wales will be supported by a £18.5m moneypot to help address the challenges facing the higher education sector, including upgrading estates.

The funding will be provided to universities via Medr and is to help meet capital costs associated with estate maintenance and digital projects to reduce operating costs, while also improving environmental sustainability.

It will also ensure that facilities continue to be suitable for providing a high-quality student experience and delivering world-leading research.

An additional £500,000 is also being invested in the Global Wales programme, to continue supporting the international recruitment and promotional activities of Welsh universities.

This is the third funding boost for the sector this financial year following an increase to the tuition fee limit that will provide up to £21.9m in additional income to universities next year and an announcement of an additional £10m last autumn.

Minister for Further and Higher Education, Vikki Howells said: “Universities across Wales are anchor institutions in our economy, our communities and our culture and this funding will contribute to their longer-term sustainability.”