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NEW: Central Falls Gets $10M Loan from Bill and Melinda Gates

Wednesday, March 06, 2013

 

The Central Falls School District announced yesterday it had received a $10 million loan from the Bill and Melinda Gates Foundation.

One of Rhode Island’s most cash-strapped communities is getting a little help for its school system

Central Falls announced yesterday that it has received a $10 million low-cost loan from the Bill and Melinda Gates Foundation to help pay for an increase in the number of seats in five of the district’s high-performing charter schools.

The money, which will be used to provide low and no-interest loans, may ultimately lead to a number of other loans for projects at anywhere from five to seven schools.

Central Falls Mayor James Diossa said the news was welcomed by the struggling city.
 

 

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