Finance Minister signs financial support agreement for safer, inclusive, and sustainable schools
The Minister of Finance, Alexandru Nazare, and Tatiana Proskuryakova, Country Director of the World Bank for Romania, and Hungary, signed today a loan agreement worth 100 million Euro to support the “Safer, inclusive and sustainable schools” project.
The project implemented by the Ministry of Education aims to modernize the school infrastructure, by consolidating or building and equipping at least 55 schools in urban and rural areas in areas with high seismic risk. This will ensure increased resilience to disasters and climate change, facilitating safer, more energy-efficient and inclusive learning environments for students and teachers, as well as increasing institutional capacity for future integrated investments in Romanian schools.
“I am convinced that by implementing this pilot project we will take a big step towards improving the educational infrastructure. We want to make sure that an increasing number of schools offer the conditions of safety, health, and sustainability that we want for children in Romania. The loan agreement signed today will fully finance the consolidation and modernization of the first 55 schools in high seismic risk areas, as well as a series of investments in school infrastructure, digitization and the provision of smart classrooms, so necessary in our country,” said the Minister of Finance, Alexandru Nazare.
The project will be implemented for a period of 6 years, the final date of withdrawal of the loan amounts being June 30, 2027. The loan is granted for a period of 10 years, and the repayment will be made in a single installment, on March 1, 2031.