EIB to grant EUR 50mn loan for schools
Serbian Finance Minister Diana Dragutinović and European Investment Bank (EIB) Adriatic regional executive Dominique Courbin signed an agreement today.
Tuesday, 08.06.2010.
13:38
Serbian Finance Minister Diana Dragutinovic and European Investment Bank (EIB) Adriatic regional executive Dominique Courbin signed an agreement today. The agreement regulates a EUR 50mn loan for education in Serbia. EIB to grant EUR 50mn loan for schools The loan is granted for the period of 25 years, with a grace period of five years and free choice of interest rate modes, said Dragutinovic after the signing of the contract at the Serbian Government. The loan is allocated for school modernization programs and represents a continuation of the project for improving the situation in schools signed in 2005, Dragutinovic said, and recalled that in 2010 Serbia expects one billion euros from the EIB. Funds from the loan will be earmarked for building new schools, eliminating the three-shift system of work which still exists in some schools in Serbia, and the reconstruction and upgrading of schools. “The role of the EIB is large, as it is the biggest individual investor in Serbia,” said Dragutinovic, and pointed out that the role of the EIB coincides with the government's wish that this financial institution continues increasing its investments in Serbia. Head of EIB Division for Slovenia, Croatia and Western Balkans Dominique Courbin pointed to the importance of the agreement for Serbia, since investing in primary and secondary schools will help the country's future economic development.
EIB to grant EUR 50mn loan for schools
The loan is granted for the period of 25 years, with a grace period of five years and free choice of interest rate modes, said Dragutinović after the signing of the contract at the Serbian Government.The loan is allocated for school modernization programs and represents a continuation of the project for improving the situation in schools signed in 2005, Dragutinović said, and recalled that in 2010 Serbia expects one billion euros from the EIB.
Funds from the loan will be earmarked for building new schools, eliminating the three-shift system of work which still exists in some schools in Serbia, and the reconstruction and upgrading of schools.
“The role of the EIB is large, as it is the biggest individual investor in Serbia,” said Dragutinović, and pointed out that the role of the EIB coincides with the government's wish that this financial institution continues increasing its investments in Serbia.
Head of EIB Division for Slovenia, Croatia and Western Balkans Dominique Courbin pointed to the importance of the agreement for Serbia, since investing in primary and secondary schools will help the country's future economic development.
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