The International Bank for Reconstruction and Development “IBRD” of the World Bank has offered Lebanon a loan of $40M to fund the implementation of the Second Education Development Project. The project’s aim is to improve teaching quality in general education and in preschools, and to increase managerial capacity of the Ministry of Education and Higher Education (MEHE) and schools.
The project is divided into three main components: the first being early childhood education, which takes up to 39% of the total loan ($15.7M), followed by supporting improvements in quality and education with 19% of the total loan ($7.6M) and education sector policy development and management worth $16.7M, 42% of the total fund.
The sources of funds (recognized when cash is receive), have significantly increased from $1.16M to $3.16M. As for the uses of the fund by project component:
Similarly, the incremental operating costs also increased 13.30% to $24,555.
The uses of the fund and the operating costs exceeded the sources of funds by $298,806 thus creating a deficit in 2015, compared to a surplus of 290,207 in 2014.