Moldova to be provided 40-million-dollar loan for education reform

On April 19 the Parliament ratified a financing agreement between Moldova and the International Development Association on the implementation of the education reform project.

The agreement was signed on 7 February 2013 and sees for the providing of a 40-million-dollar loan to Moldova to finance the education reform.

According to the agreement, the money will be meant to consolidate the quality of education via financing programmes aimed at improving the assessment of pupils and the management systems. Financial means will be also provided to improve the Education Ministry’s advisory capacities.

The loan is provided in line with the International Development Association´s standard conditions for a 25-year term, with a 1.25-per-cent annual interest rate.

Adapted from Moldpres