March 17 (SeeNews) - Romania will seek a 100 million euro ($119 million) loan from the International Bank for Reconstruction and Development (IBRD), part of the World Bank Group, to finance the rehabilitation of school buildings, the finance ministry said on Wednesday.
The loan is to be taken out with a six-year tenor, the finance ministry said in a press release.
"I have asked the government for a mandate to negotiate and sign a 100 million euro loan agreement with the IBRD needed for investments in school infrastructure, especially in the less developed areas of the country," finance minister Alexandru Nazare said.
The "Safer, inclusive, sustainable schools" project will be implemented by the education ministry
($=0.8397 euro)