Moldova will receive $60 million in loans and grants to improve the quality of education.
The government on Wednesday approved the signing of an agreement with the International Bank for Reconstruction and Development (IBRD) on a $40 million loan for the implementation of the project "Improving the Quality of Education". The borrowed funds will be complemented by 3 grants totaling $20 million: $10 million from the Global Concessional Financing Facility (GCFF), $5 million from the Early Learning Partnership (ELP) and $4.8 million from the Global Partnership for Education (PGE). The "Improving the Quality of Education" project is scheduled to be implemented in 2023-2029. It envisages the introduction of professional standards for teachers and managers of educational institutions at the national level; strengthening human resource capacity in the education system by improving the programs and procedures for continuous training of specialists; preparation of materials on modern teaching methods, etc. It is also planned to physically and digitally upgrade about 200 schools in the country, 15 schools and kindergartens will be repaired and 3 new lyceums will be built in the growth pole cities. The IBRD loan will be provided for 25 years, including a grace period of 15 years. The interest rate on IBRD's loan will be variable, the commitment fee will be 0.25% of the unpaid amount, and the flat fee will be 0.25% of the loan amount. // 28.06.2023 – InfoMarket
