The main purpose of the four-year project is to advance the process of education of students, Suker said adding that the loan was granted with a grace period of five years and an interest rate of 2.5 percent. The repayment period is 15 years.
Education Minister Dragan Primorac said that 100 million kuna (approx. 13.5 million euros) from the loan would be used for the construction of new schools.
Prime Minister Ivo Sanader, who attended today's ceremony in Zagreb, said Croatia was not a great economic power, but that it intended to become a society based on knowledge and science.
Seth said that this was the first project in Croatia's education sector to be supported by the World Bank and suggested that the signatories meet again in one year's time to inspect progress in the implementation of the project.