Moldova will receive about $60 million in loans and grants from the WB to implement the Education Quality Improvement Project (EQIP)
The country will receive a $40 million loan and grants worth $19.8 million for this purpose. This is stipulated by the relevant loan agreements signed in Chisinau on June 30 this year, which the parliament ratified at a session on July 31. According to the documents, the International Bank for Reconstruction and Development (IBRD), a member of the WB group, will grant Moldova a $40 million (36.5 million euros) loan for the implementation of the above-mentioned project. These loans will be complemented by three grants from external partners worth $19.8 million, including a $4.8 million grant from the Global Partnership for Education (PGE), a $5 million grant from the Early Learning Partnership (ELP) and a $10 million grant from the Global Concessional Financing Facility (GCFF). The IBRD loan will have a 25-year term, including a grace period of 15 years. The interest rate on the IBRD loan will be variable, with a commitment fee of 0.25% of the outstanding amount and a flat fee of 0.25% of the loan amount. The Education Quality Improvement Project is scheduled to be implemented in 2023-2027. The funds will be used to build three new lyceums in growth pole cities in the northern, southern and central Moldova, to modernize infrastructure, digitally transform the learning environment in about 200 schools in the country and renovate 15 schools and 15 kindergartens. The project envisages the introduction of professional standards for teachers and managers of educational institutions at the national level; strengthening the human resources potential in the education system by improving programs and procedures for organizing continuous training of specialists; preparation of materials on modern teaching methods, etc. With this funding, the WB intends to reduce inequalities in access to educational services, improve the quality of services provided, paying special attention to the most disadvantaged and vulnerable children in Moldova, as well as refugees from Ukraine. // 31.07.2023 - InfoMarket.
