Poor families with children in secondary education, who are beneficiaries of social assistance, will receive Denar 12,000 annually for the education of their children.
 
Funds are provided from the World Bank, and the Loan Agreement was signed today by the Vice Prime Minister and Minister of Finance, Zoran Stavreski, and World Bank Resident Representative, Marcus Repnik.
 
– Objective of the project is to help poor families provide secondary education to their children so as to be able to get out of poverty, Minister Stavreski said, adding that this was also support to Government measures for mandatory secondary education.
 
According to World Bank representative, Mr. Repnik, this is an important project, especially in conditions of global economic crisis, protecting the most vulnerable groups. – This project is, as he said, important beyond the immediate economic crisis.
 
Repnik believes the success of the project depends not only on the Government, which is making important steps in this field, but it is also about each and every Macedonian citizen who has children to do everything possible to support their children in having education.
Macedonia is innovating such project in this region. It was implemented in Mexico and Brazil 10 years ago, as well as in other countries which have positive experience.
 
Macedonia was approved EUR 19 million for the project under the Loan Agreement. Repayment period is 25 years, with seven years grace period and variable interest rate of approximately one percent. Potential beneficiaries are estimated at around 18,000 to 20,000 people, and the requirement for obtaining the funds is for the pupils to regularly attend lessons and complete secondary education.(MIA)
