Brussels, 09/06/2010 (Agence Europe) - In Belgrade on Tuesday 8 June, the European Investment Bank (EIB) signed a contract with Serbian Minister of Finance Diana Dragutinovic, with Minister of Education Zarko Obradovic present, for a €50 million financing loan to support the national school modernisation programme.
The loan will cover some 50% of the total cost of the project which has two main objectives: - improving the quality of learning conditions for students at all levels of pre-university education; - more efficient allocation of investment in physical infrastructure in the education sector all over the country.
This operation forms part of the EIB's support for Serbia's primary and secondary education sector, following the successful implementation of a first €25 million loan from the Bank in 2005. It is fully in line with the EIB's lending priorities, which seek to strengthen and develop activities in support of candidate and potential candidate countries. This is the second time the EIB has supported the education and Research and Development (R&D) sector in Serbia: the first, €200 million in funding for public R&D, was signed on 4 March 2010. (O.L./transl.rt)