The European Investment Bank (EIB) , the European Union's financing institution, announced Monday that it is to lend 12.5 million euros to Albania to help upgrade education infrastructure and management of education system in the country.

The funds will be used to improve the quality of learning conditions for students, to boost enrollment in secondary education, and to better governance in the higher education sector, the bank said in a statement posted on its website.

The loan, which supports the 2007-2010 phase of Albania's National Education Strategy, will help develop and improve the existing education infrastructure, especially in secondary education, and set the stage for higher education reform, the bank said.

The task of the EIB is to contribute to the integration, balanced development and economic and social cohesion of EU member states. EIB financing in Albania has exceeded 230 million euros since 1995, with previous loans mainly focused on reconstruction of basic infrastructure.

Source: Xinhua