Announcement of World Bank Lends Nine Million Dollars for Education in Barbados on December 21, 1978

~ FOR IMMEDIATE Rfi[EASE ' · - . . .;\/arid Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.• Telephone: (202) 477-1234 BANK NEWS RELEASE NO. 79/34 December 21, 1978 WORLD BANK LENDS $9 MILLION FOR EDUCATION IN BARBADOS The World Bank announced today the approval of a $9 million loan for an education project in Barbados. This is the first lending operation to Barbados. The project will help Barbados enhance the effectiveness and efficiency of its education system, ~nd make possible the effective applica- tion of modern and relevant curricula. It will also provide more equitable distribution of education opportunity. • Barbados has the highest literacy rate in the Caribbean and the government considers its well-educated labor force one of its main assets in developing the productive sectors of its economy. The p(oj~c.;t wi 11 involve construction, furnishing, and equipping of ten replacement primary schools and six existing secondary schools. One secondary school presently under construction will also be equipped and furnished under the project. The improved schools are expected to benefit almost 6,000 primary school children in the rural and poorer urban areas, and over 7,000 secondary school students. The project will also enable the Erdiston Teacher Training College to function as a teacher resource center, and the Barbados Institute of Management (BIMAP) to undertake in-plant training and advisory services to small-scale enterprises. ihe World Bank's $9 million loan in education will have a term of 15 years, including three years of grace, with interest at 7.35% per annum. Total cost of the project is about $14.S million. • NOTE: Money figures are expressed in U.S. dollar equivalents •. FOAM NO. 1121 (5-76) T E C HN I CAL DA T A PROJECT: COUNTRY: TOTAL COST: First Education Barbados $ 14, • 5 mi 11 ion • BANK FINANCING: $9 mi 11 ion for a term of 15 years, inc 1u.d i ng 3 years of grace at 7-35% per annum OTHER FINANCING: Government of Barbados, $5.5 million IMPLEMENTING ORGANIZATION: Ministry of Education and Culture (MOE)~ St. Michael, Barbados , W. I . PROJECT DESCRIPTION: It consists of: a) construction, furnishing, and equ~pping of 10 (replacement) primary schools with 5,880 student places; b) construction, furnishing,and equipping to expand six existing secondary schools by 2,600 s.tudent places and equipping and -furnishing of one secondary school presently under construction with 1,225 student places; c) expansion of Erdiston (Primary and Secondary). Teacher Training College to function also as a teacher-training resource center; d) expansion of the Barbados Institute of Management and Productivity to undertake in-p·lant training; e) equipment and furniture for the Project U~it; and f) technical assistance in support of institution-building, project management, and professional services. PROCU.REMENT: Contracts for civil works and the procurement of furniture and equipment will be awarded on the basis of international competitive bidding (ICB) in accordance with Bank guidelines. Furniture and equipment which cannot be grouped into packages of at least $50,000 and civil works contracts of less than $100,000 will be procured on the basis of local procedures acceptable to the Bank. In the case of procurement under ICB, domestic furniture ~nd equipment manufacturers will be accorded preferential treatment in bid evaluation, limited to 15% of the c.i .f. price of imported goods or the actual tariff application, whichever is lower, and regional preferences for other members of the Caribbean Common Market (CARICOM) will be limited to 15% of the c.i.f. price of nonregional goods or the difference in tariffs, whichever is low~r. CONSULTANTS: Architectural consultants for the Project Unit and the BIMAP component; short-term consultants for Erdiston Teacher Training College or the University of the West Indies. • ESTIMATED COMPLETION DATE: 1982 - 0 -