Serbia obtains Euro 50 million loan for school modernization project
June 10th, 2010 - 2:38 am ICT by BNO NewsBELGRADE, SERBIA (BNO NEWS) – Serbian Minister of Finance Diana Dragutinovic obtained a loan of €50 million from the European Investment Bank for a school modernization program, the European Union announced on Wednesday.
The multi-million loan will cover half of the total cost of the project. The main objectives of the program are to improve the quality of pre-university educations and to reach a more efficient allocation and investment in physical infrastructure in the Serbian education sector.
“I am really satisfied for this operation in the educational sector: the EIB is following closely investments in human capital in Serbia,” said Dario Scannapieco, EIB Vice President.
This loan is the second obtained by Serbia. In 2005, a €25 million loan was extended to Serbia. It also represented a continued EBI’s support to Serbia’s primary and secondary education sector.
“We appreciate the efforts made by the Serbian government to invest in the building of its human capital. These are projects with a long-lasting payout from which Serbia’s competitiveness will strongly profit.”
The EIB has been active in the Western Balkans since 1977 and is the largest international financier in the region. Since 2001, the European Investment Bank has extended €2.6 billion for projects in Serbia.
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Tags: 50 million, competitiveness, ebi, education sector, educational sector, eib, european investment bank, european union, international financier, minister of finance, modernization program, modernization project, physical infrastructure, pre university, school modernization, secondary education, serbia, serbian government, university educations, western balkans