Announcement of Jordan to Receive World Bank Loan for Education on March 17, 1983

· . FOR IMMEDIATE RELEASE ' I> •World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.• Telephone: (202) 477-1234 BANK NEWS RELEASE NO. 83/53 Contact: Ciro Gamarra March 17, 1983 (202) 477-5320 JORDAN TO RECEIVE WORLD BANK LOAN FOR EDUCATION Jordan's efforts to expand secondary vocational education will be assisted by an $18.8 million loan from the International Bank for Reconstruction and Development (IBRD). A total of 18 schools will be constructed under an $88.9 million project. Under the Fifth Education Project, five boys' vocational schools, offering industrial and agricultural specializations will be built. Three preparatory/secondary boys' schools will be constructed with boarding facilities for rural students. Ten girls' vocational schools will offer courses in business, nursing, dressmaking, and cosmetology. The schools will be loc, ~ed in both urban and rural areas. The IBRD • loan will provide technical assistance for instructors and school administrators. The Ministry of Education will also use technical assistance for strengthening its programs of practical job experience, career guidance, and manpower planning, as well as in project preparation and implementation. The Saudi Fund for Development is expected to provide $22.1 million in co-financing and the Overseas Development Administration (United Kingdom) is expected to lend $3.2 million for the project. Jordan's education sector has previously received two IBRD loans totaling $44 million and two IDA credits totaling $11.4 million. These projects were designed to assist the country in providing quality education to all age groups, establishing manpower training, and increasing vocational training opportunities for women. The IBRD loan is for 17 years, including four years of grace, at an interest rate linked to the cost of borrowing. The loan also carries an annual commitment charge of 0.75% on undisbursed balances and a front-end fee of 0. 7 5% 0n the amount of the loan.· NOTE: Money figures are expressed in U.S. dollar equivalents • •