The inter-office committee on competitive bids declared, Monday, that Bank Massad has won the tender to provide loans ranging from 4,500 shekels to NIS 25,000 at advantageous rates to 150,000 teachers or pensioned teachers employed by the Ministry of Education. The period of the loans would be five years.
The bid also permits the bank to conditional tuition grants to 50,000 students who are learning how to teach as an incentive to enter the profession. The conditional status of the grants will be removed for students who graduate and are employed by the ministry, and could cover all a student's tuition. The tender is for five years, starting on July 1st.