THE EUROPEAN COMMISSION and the World Bank have signed an administrative agreement allowing for the transfer of 8.43 million euro (EC$27.3 million; BDS$20.2 million) from the commission to the bank for the rehabilitation of 20 schools in Grenada. This was all part of a co-financing agreement signed between the two parties under the post Hurricane Ivan School Rehabilitation Project. The World Bank will be responsible for the technical and financial implementation of the project, while the Ministry of Education in Grenada will be the implementing agency. The bank has already started the rehabilitation project, which will be implemented over three years. Activities to be funded include civil works, supply of furniture, school supplies and any other activity aimed at rehabilitating educational facilities. Ivan struck Grenada on September 7 last year, leaving most of the schools unusable. Some 82 of the facilities used for primary, secondary and tertiary education (including skills training centres) were involved, with global costs of rehabilitation and reconstruction estimated at US$57 million (BDS$114 million). Reprinted from nationnews.com