IFC's Overall Contribution to SDG-4 in Calendar Year 2019
5.5 million Students reached - 1.0m Women
IFC's Contribution to individual targets of SDG-4
4.3 By 2030, ensure equal access for all women and men to affordable and quality technical, vocational and tertiary education, including university.
Examples of IFC projects contributing to SDG-4
Bringing entrepreneurship, innovation and jobs to marginalized communities in Colombia through tertiary education
UNIMINUTO’s 22,000 alumni enjoy an employment rate of 82 percent within 6 months of graduation, above the 79 percent average for national universities. Quite a remarkable feat, when taking into consideration that 98 percent of the student population comes from the lowest three strata (out of six) of the Colombian socio-economic classification system. In many cases, the students are the first in their families to attend university. As further evidence of their inclusive business model, an impressive 70 percent of UNIMINUTO students are female. UNIMINUTO has successfully developed a formula for the private sector to service pent up demand for increased economic opportunities in neglected communities. Without UNIMINUTO, 100,000 students would not have had the opportunity to pursue a tertiary education degree, a vocational education certificate or a diploma of extension course. UNIMINUTO has achieved these outcomes through a financially sustainable model and today manages a healthy surplus, proving that it is financially feasible to provide tertiary education services to Colombians at the Base of the Pyramid (BoP).
Improving school operations and the quality of education
A total of 718 private schools benefited from the ASK program, of which 61 received loans. School respondents to the questionnaire also reported impacts, particularly of school staff working together better as a team (82%), better teaching and learning in the classroom (82%) and teachers being more involved in school management (81%).