Romania borrows EUR 200 mln from BIRD to support high school graduates

Newsroom 25/02/2015 | 16:40

Romania will get a EUR 200 million loan from the International Bank for Reconstruction and Development (BIRD) for unrolling a program that aims to encourage high school graduates to continue their studies in universities or other post-secondary education units.

The loan will be granted for a period of 20 years and will be paid back in one installment on November 1, 2034, with a EURIBOR interest at six months, according to a memorandum approved on Wednesday by the Government and quoted by Mediafax.

The program’s implementation period will be of about seven years.

High school graduates will be stimulated to enroll in universities through school interventions (grants, tutoring, counseling, extracurricular activities), systemic interventions (revision of curricula, teacher training, teaching improvement), as well as through university interventions and summer programs, aiming to support students with dropout risk.

Staff