Colombia: WB loan to support low income college students; US$300 million will help expand tertiary education.

M2 Presswire, March, 2008

M2 PRESSWIRE-5 March 2008-WORLD BANK GROUP: Colombia: WB loan to support low income college students; US$300 million will help expand tertiary education(C)1994-2008 M2 COMMUNICATIONS LTD

RDATE:04032008

WASHINGTON, D.C -- The Board of Executive Directors of the World Bank today approved a $300 million loan to support Colombia's national student loan agency - Instituto Colombiano de Credito Educativo y Estudios Tecnicos en el Exterior (ICETEX) - to finance access to higher education for low-income students.

ICETEX aims to offer financing to 100,000 new students to enroll in higher education for the first time in 2008-10 and will also finance 432,000 loan renewals for students who are already attending programs. ICETEX will award loans based...