Moldova signed a new agreement with the International Development Association for borrowing US$40 million for the renovation of 94 district schools. The draft agreement ratification decision was approved by the Parliament’s commission on social protection, health and family, IPN reports.
The loan is repayable in 25 years, with a grace period of five years, at an interest rate of 1.25% a year. The Ministry of Education compiled a preliminary list of the schools that will be renovated. The schools were selected according to such criteria as the number of students, the quality of studies and the institution’s future prospects.
The commission’s head Vladimir Hotineanu said there should be designed at most three types of renovation projects that would be applied to all the institutions involved in the project. Money can be saved this way.
The lawmakers asked that the Ministry of Education submit the strategy for reforming the education system to Parliament and then accepted the ratification of the lending agreement.
