November 30, 2005

World Bank Grants Romania $60M Loan

The World Bank will grant Romania a US$60 million (euro51 million) loan to promote computer and internet use in rural areas, the bank said Wednesday.

The Knowledge Economy project will promote wider access to the Internet and aims to increase computer and Internet access outside cities.

"Currently there is a significant disparity in the availability of IT equipment and access to knowledge between the urban and the rural areas," Communications and Information Technology Minister Zsolt Nagy said.

The project will set up about 200 local community centers with Internet access in targeted disadvantaged communities that will operate as tools for education, business and public communications.

The centers will be based in schools and public libraries, and will also provide services in the area of e-commerce or innovation support for small and medium enterprises.

Since 1990, the World Bank has granted Romania more than US$4.2 billion (euro3.56 billion) in development loans. The current loan is repayable in 17 years, including a 5-year grace period.

http://www.forbes.com/technology/feeds/ap/2005/11/30/ap2360528.html