World Bank loan queried

EDUCATION Minister Nangolo Mbumba has been asked to provide more details about Government’s intentions to fund its Education and Training Sector Improvement Programme (ETSIP) through a loan from the World Bank.

Congress of Democrats Vice President Nora Schimming-Chase asked him in the National Assembly on Tuesday whether Government intended to fund ETSIP in this way and, if so, the value and conditions of the loan. She also wants to know how Government intends to repay the loan.ETSIP is a multi-billion-dollar plan to overhaul the country’s education sector.The first phase, which is set to start next month, spans until 2011 and will cost N$20,3 billion to implement.According to the ETSIP policy document, Government intends to borrow from the World Bank an amount not exceeding the South African rand equivalent of US$30 million to close the financing gap.Government intends ploughing N$8,2 million into ETSIP until the 2008-09 financial year.She also wants to know how Government intends to repay the loan.ETSIP is a multi-billion-dollar plan to overhaul the country’s education sector.The first phase, which is set to start next month, spans until 2011 and will cost N$20,3 billion to implement.According to the ETSIP policy document, Government intends to borrow from the World Bank an amount not exceeding the South African rand equivalent of US$30 million to close the financing gap.Government intends ploughing N$8,2 million into ETSIP until the 2008-09 financial year.