EUR 200 million loan to benefit 1,620,000 Romanian students in 1,100 high-schools and 300 public universities
WASHINGTON, April 17, 2015—Today in Washington, Laura Tuck, World Bank Vice President for Europe and Central Asia, and Eugen Teodorovici, Romania’s Minister of Public Finance, signed a Euro 200 million loan agreement for the Romania Secondary Education Project (ROSE).
ROSE, the largest education project supported by the World Bank in the Europe and Central Asia region, aims to increase Romanian students’ chances of successfully completing tertiary education. It will be implemented by the Ministry of Education and Scientific Research over the next seven years. The loan was approved by the World Bank’s Board of Executive Directors on March 16, 2015.
“It is an honor for me to be here today to sign this loan on behalf of the World Bank,” said Laura Tuck, World Bank Vice President for Europe and Central Asia. “The event today bears witness of the positive performance of Romania and the excellent dialogue between the Government and the World Bank. It recognizes the importance of quality education for all Romanians. The country is confronted with an aging population and a shrinking workforce. A well-qualified and more productive workforce is crucial to sustain economic growth in the future.”