IFC projects help people gain skills that fit the needs of the global marketplace.
Uneducated workers are at a severe disadvantage in today’s fast-changing global economy. Without specialized training, it’s nearly impossible to find meaningful employment—jobs that offer economic stability and social mobility.
That’s too often the reality for low- and middle-income people in developing countries. And when generation after generation goes untrained, poverty becomes entrenched.
By investing in education, IFC is working to reverse the trend. Our projects boost access to quality education, providing skills that fit the needs of the global marketplace. We invest directly in education companies, support lending to students, inform government policy, and share knowledge we’ve learned working in the industry.
Over the past decade, IFC has invested more than $2.2 billion in health and education companies in emerging markets, with projects in more than 30 countries. Our work in technical and vocational education, an area where we are increasingly active, can have a significant impact. These programs are targeted at underserved people who are often the first members of their families to receive post-secondary education.
We lent $24 million to TCG Holdings of the Philippines, a company that runs a chain of schools focused on the hospitality industry. Our investment will help expand two existing campuses of the Asian School of Hospitality Arts and establish four new ones, adding capacity for 5,000 new students.
The result: low- and middle-income students in the Philippines—many of them disadvantaged women—will have better access to specialized training, and more hope for a good job.
Education and health are top priorities for IFC—we invest more than any other multilateral institution in private sector health and education in emerging markets. And we collaborate closely with the World Bank to design strategies for countries that do not have the resources to provide high-quality health care or education services for all their people.
IFC is expanding access to quality health care by investing in innovative business models. Over the past decade, we have invested $1.6 billion in health care.
Our work with Archimedes Global offered a new way to bring vital health services to underserved populations. In our first direct investment in the health-insurance sector, we invested $3 million in equity in Archimedes Health Developments, a firm that provides health insurance and health services in Georgia and Kazakhstan. The investment will help Archimedes open 24 clinics and provide insurance to 670,000 people by 2018.