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ANNOUNCEMENT

IFC freeze on investment in K-12 private, fee-charging education

IFC is freezing investments in K-12 private, fee-charging schools. This decision will apply to our direct investments, advisory work, and indirect investments resulting from new investments in private equity funds. We are taking this step in response to concerns by external stakeholders about the impact of private schools on education quality and access. In addition, we will request that the World Bank’s Independent Evaluation Group evaluate IFC investments in K-12 private education and review impacts on educational outcomes, access, poverty and inequality. This evaluation will be followed by an inclusive and transparent consultation process, bringing together the World Bank Group’s Board, education experts, and civil society, to determine whether there are any circumstances under which future IFC investments in private, fee-charging K-12 schools could be made.
This freeze will not impact our work to invest in new tools, such as in education technology and infrastructure, that can help improve learning and access for all students. IFC will also continue its work in higher education, including universities and vocational schools, and in early childhood services.

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Demand for education is soaring. The number of higher education students is projected to more than double by 2025. Most of this growth will come from the emerging markets. While the number of children out of school globally may have dropped sharply during the 1990s, it remains unacceptably high in some regions, especially for girls. Meanwhile, youth unemployment continues to grow globally, even as employers report difficulty in finding workers with the right skills.

 

Expert Voices
“It takes more than technology for great online learning.”

  • To create a top-quality online education experience, higher education institutions need to do much more than simply digitally replicate the in-person classroom, says Christopher ‘Chip’ Paucek, CEO of 2U, an edtech company that works with nonprofit universities globally to develop online degree programs, boot camps and short courses. In this interview, Paucek explains how universities in emerging markets can better adapt to make education online successful.

    Read Now  »

Stories

  • Thumbnail:Investors Give High Scores to India’s Top Math App Investors Give High Scores to India’s Top Math App
  • Thumbnail:Career-Focused Education Delivers More than a Degree Career-Focused Education Delivers More than a Degree
  • Thumbnail:Learning for the Jobs of Tomorrow Learning for the Jobs of Tomorrow

MORE STORIES

Development Reach

The impact of IFC clients in Health and Education in 2019:

  • 5.5 MILLIONSTUDENTS EDUCATED
  • 314.8ThousandJOBS SUPPORTED
  • 185ThousandJOBS FOR WOMEN SUPPORTED

A company or entrepreneur seeking to establish a new venture or expand an existing enterprise can approach IFC directly.

The investment proposal can be submitted to the IFC field office that is closest to the location of the proposed project.

How to Apply for Financing
Find the Office Nearest to You

 

BLOG: Africa needs digital skills across the economy - not just the tech sector

World Economic Forum | October 22, 2020

The importance of Africa being digitally connected and skilled is obvious. Think of the farmer in Ethiopia checking crop prices on government websites, a factory worker in Kenya sharing photos via their smartphone to update management, or a small business in Rwanda switching to online banking. Without access to online information, e-commerce, and instantaneous communication via mobile technology, it is that much harder for workers, business owners and families to succeed and prosper.

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