Home » Business

The World bank gives 200 million dollars for education

Submitted on Friday, 15 May 2009No Comment

The board of directors of the World bank decided that they will lend 200 million dollars to Bulgaria.

The press release of the World bank stated that the money will be used for the reforms in the social sector – modernizing the education system, the improvement of the financial and medical services and the creation of work places, as well as the increase of social security in the conditions of an economical crisis.

This is the third and last of a string of loans to Bulgaria.

The approved loan is for a period of 17 years, with a five year gratis period.