The loan, which equates to J$1.4 billion, is repayable in 26 years, including a five-year grace period.

Yvonne Tsikata, World Bank director for the Caribbean, said the loan disbursement represents a step towards developing an important pillar of Jamaica's education system.

"Building staff capacity and helping institutional structures and systems to become fully functioning and efficient entities is at the core of the new programme," Tsikata said.

The Education Transformation Capacity Building Project will support implementation of the national education transformation programme by making operational the emerging key agencies that will ensure the delivery of high-quality education and improve the efficiency, accountability and performance of the education system.

Establishing independent agencies

In a release from the World Bank, Education Minister Andrew Holness said this project supports Jamaica's efforts to deliver more effective and efficient education services by assisting with the establishment of independent agencies that are accountable for results.

The specific aims of the project to be supported by the loan include implementing a systematic school inspection process and training for regional school improvement officers to support low-performing schools.

Funds will also be dedicated to the development of standards, qualifications, and professional development opportunities for teachers and principals; training in instructional leadership and school management for school principals, middle managers and school boards; as well as training in the implementation of public-private partnerships in the education sector.