The State has approved €100m for five large higher education building projects.

The funding is part of ongoing investment in the sector through Project Ireland 2040 and a fund known as the Higher Education Strategic Infrastructure Fund (HESIF).

The Department of Education said the funding has been approved "in principle" to help support up to 14,000 new places for students in higher education institutions.

Maynooth University has been approved €25m for a new Technology Society & Innovation Building. 

IT Sligo will get €6.6m for its Central Campus Project. 

UCC has been allocated €25m for the Cork University Business School Project and NUIG is to get €15m for its Learning Commons Project.

There is also €25m for UCD's Future Campus Project.

Minister for Education Joe McHugh said the awards would significantly enhance the capacity of the sector in advancing Ireland's national and regional ambitions.

Mr McHugh said a key objective of the Higher Education Strategic Infrastructure Fund was to encourage non-Exchequer investment in the sector, with the five projects in this round also expected to leverage more than €400m in non-Exchequer co-funding.

Between 2017 and 2030, the number of full-time students enrolled in higher education is projected to increase by more than 38,000 to a total of more than 222,000.

The Department of Education said the five projects were selected following a detailed application and assessment process and based on the capacity of the projects to deliver on the objectives of the Higher Education Strategic Infrastructure Fund.

The objectives of the fund include the provision of additional student places consistent with current projections.

The department said the projects selected are at different stages of development and, in most cases, significant planning and design work is still required to bring the projects to tender stage.

The projects will be subject to ongoing economic and financial appraisal, and a further approval will be required by the Higher Education Authority before a project proceeds to tender.