Project description and objectives
The EBRD is considering a senior loan in the amount of up to USD 5 million to two schools part of the Quality Schools International network – USD 1 million to Tirana International School (“TIS”) in Albania and USD 4 million to Ashgabat International School (“AIS”) in Turkmenistan, jointly “the Borrowers”.
The operation will enable the Borrowers to build (i) a new facility on the existing premises of AIS in Turkmenistan and refinance (ii) a new facility for TIS in Albania, which was largely completed in 2014.
The expected transition impact relates to market expansion and skills transfer. In particular, the project is expected to have impact on (1) attracting more foreign investments in the respective countries where the lack of sound educational establishment for expatriate children could be considered one of the constraining factors; (2) professional development for local teachers, (3) educational opportunities for local students, (4) outreach to the local community through Pre-school and Summer School programs, and (5) enhanced interaction between AIS students and local students, for example via guidance counselling programs.
Quality Schools International, a private non-profit education provider operating a network of 36 primary and secondary schools in 27 countries and headquartered in Slovenia, offers education services and facilities to international standards in some of the most remote capital cities in EBRD’s region, and their reach matches closely EBRD’s Early Transition Countries and other countries of the former Soviet Bloc. Sanaa International School was established in 1971 in Sanaa, Yemen, by its founding member Mr. James Gilson (a US citizen). QSI grew out of that school and was officially established in 1991. Since then, QSI has increased its network and number of students as a response to local market demand for international education and support by local governments and US Department of State.
QSI Tirana International School (“TIS”) was established in September 1991 through an Operational Agreement between QSI and the Government of Albania and at present provides education to 180 students ranging from 3 to 18 years of age.
- QSI Ashgabat International School (“AIS”) was established in 1996 through an Operational Agreement between QSI and the Ministry of Education in Turkmenistan and at present provides education to 247 students ranging from 3 to 18 years of age.
A 5-year senior secured loan of USD 5 million, (USD 1 million to TIS and USD 4 million to AIS).
Total project cost: USD 19.0 million
Environmental and social categorisation, impact, and mitigation
Categorised B. The ESDD was carried out on the basis of a review of completed Environmental and Social Questionnaires and supporting documentation provided by QSI, focusing on life and fire safety, building safety and safety of the pupils and staff at QSI schools. The reviewed information included the existing life and fire safety inspection documentation for the sub-project schools in Ashgabat and Tirana commissioned by the US embassies. The US State Department provide financial support to QSI schools and the US embassies regularly inspect life and fire safety and other safety matters as a condition to its funding. The ESDD showed that QSI's HR, OHS and general environmental and social management practices are in line with EBRD PRs. An ESAP has been developed, requiring QSI to carry out its future construction projects and school operations in accordance with PRs and address life and fire safety at the schools in accordance with internationally recognised standards. QSI is also required to provide annual environmental and social reports to the Bank.
TC funds associated with legal fees: EUR 5,200 for TIS and EUR 2,400 for AIS.
Bonita VanVeen, Finance Manager
Quality Schools International – Headquarters
1000 Ljubljana, Slovenia
Tel: +386 1 200 7872
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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