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The World Bank will invest $84 million in the development of the Russian educational system until 2008
The World Bank will invest $84 million in the development of the Russian educational system until 2008, the WB country director for Russia said Thursday. Kristalina Georgiyeva said the Bank was currently implementing two education projects in Russia. The $50 million project, Support of Education Reform, has been carried out since 2000 and will be concluded in 2006, she said. The second project, Computerization of Education, started in 2005 and will run through 2008 in seven Russian regions. Georgiyeva said the project would cost $150 million, with the Russian regions expected to allocate $50 million and the World Bank providing $100 million. The director said $28 million from the bank's funds had been used to finance the program in 2005 and added that it could be extended until 2011 if it proved to be a success.
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