Lacking a university degree and in-demand skills, Jairo Alexander had few job prospects. So at age 35, he enrolled in UNIMINUTO, a pioneering private-education provider known for its low-cost, job-focused college education programs. After graduation, he became an auxiliary engineer, then founded a successful Colombian construction business that now employs others.
UNIMINUTO’s inclusive business model helps low-income Colombians gain the skills they need to build careers. Administrators work with industry and government to ensure students gain marketable skills relevant to employers’ needs.
IFC helped put UNIMINUTO on a path to rapid growth in 2009 with an $8 million loan that helped it expand infrastructure, upgrade technology, and improve long-term financial strategy and sustainability. Today its campuses and distance learning programs reach more than 100,000 students nationwide—stretching even to remote Amazon villages.
IFC is the largest multilateral investor in private education, with over 100 investments in private education companies in more than 35 low- and middle-income countries.