MICROCAPITAL BRIEF: International Finance Corporation (IFC) to Invest $25m in Proyectos Educativos Integrales del Peru to Establish Educational Institutions for Low-Income Students

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has announced a USD 25 million investment in Proyectos Educativos Integrales del Peru (PEIP), an education company, to create a university and a network of technical institutes to educate low-income students in Peru. Part of this investment will also be used to establish an unspecified number of primary and secondary schools in the country. In a quote attributed to Mr. Jose Antonio Garcia Miro, president of the board of Empresa Editora El Comercio, a publishing house in Peru, this investment “will enhance the quality of the education of low income students, increase their labor capabilities and improve their lives”[1]. Mr. Juan Gonzalo Flores, IFC’s representative for the Andean region, said that the investment “is fundamental to end poverty in emerging economies like Peru”[1].

IFC’s portfolio in the education sector is worth approximately USD 651 million and includes 60 projects in 24 countries. IFC has 184 member countries and reported total assets of USD 77.5 billion as of fiscal year-end 2013. Financial information for PEIP is not available.

By Juan Blanco, Research Associate

About International Finance Corporation (IFC)

The International Finance Corporation (IFC), a US-based multilateral development bank and member of the World Bank Group, offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. IFC has 184 member countries and reported total assets of USD 77.5 billion as of fiscal year-end 2013.

Sources and Additional Resources

[1] International Finance Corporation, “IFC Invertirá $25 Millones en PEIP para Aumentar el Acceso a la Educación en Perú,” 2014, http://ifcext.ifc.org/ifcext/pressroom/IFCPressRoom.nsf/0/DDD5B8E7957F4A3885257D01007016F7

MicroCapital, June 16, 2014, International Finance Corporation (IFC) Loans $18m to Microfinance Institution Financiera Confianza of Peru to Support Low-Income Entrepreneurs

MicroCapital, June 5, 2014, International Finance Corporation (IFC), Colombian Federation of Chambers of Commerce, Superintendence of Corporations to Facilitate Lending Based on Movable Collateral

MicroCapital, June 1, 2014, International Finance Corporation (IFC) Invests $4.8m in Fondo Para el Desarrollo (FONDESA) to Support Financial Inclusion in Dominican Republic

MicroCapital Universe Profile: International Finance Corporation (IFC)

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