The World Bank's board of directors has approved a €100mn loan to be extended to Romania under the Safer, Inclusive and Sustainable Schools Project, aimed at upgrading nearly 100 buildings across 55 schools in Romania to modern standards for safety, resilience, inclusion, sustainability and digital access.
"A child born in Romania today is expected to be only 58% as productive as they could be if they had access to better education and health services," noted Tatiana Proskuryakova, World Bank country manager for Romania.
"Romania has a high proportion of school buildings that fail to meet safety, basic sanitary, and energy efficiency standards," said Alanna Simpson, World Bank lead disaster risk management specialist. Today, more than 1,000 schools around the country are at high risk of severe damage or collapse in an earthquake or do not meet modern fire codes, sanitation, and air quality requirements, the World Bank’s statement reads.
Hungary’s MBH Bank has completed a successful €200mn Tier 2 bond issuance amid strong investor appetite. The ten-year notes, callable after five years, are priced with a 6.875% coupon following ... more
The International Monetary Fund (IMF) has concluded that Azerbaijan’s financial system has made considerable progress in strengthening resilience since the 2015 oil price shock and 2020 COVID-19 ... more
The Azerbaijani banking sector has demonstrated remarkable resilience and steady growth in recent years, despite global economic challenges, according to the latest central bank ... more