An Evaluation of International Finance Corporation Investments in K–12 Private Schools
In March 2020, President Malpass announced a freeze on IFC’s direct investments and advisory services support to private for-profit K–12 schools and requested IEG “undertake an evaluation of IFC investments in K–12 private education provision, incl...
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| Format: | Report |
| Language: | English en_US |
| Published: |
Washington, DC : World Bank
2022
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| Online Access: | http://documents.worldbank.org/curated/en/099427406072223017/IDU0abd1aade0095a04fa409ef205eb6d44a0261 http://hdl.handle.net/10986/37673 |
| Summary: | In March 2020, President Malpass
announced a freeze on IFC’s direct investments and advisory
services support to private for-profit K–12 schools and
requested IEG “undertake an evaluation of IFC investments in
K–12 private education provision, including impacts on
educational outcomes, poverty, and inequality.” This
evaluation follows this request and is designed to help the
World Bank Group’s Board of Executive Directors and IFC’s
management consider the circumstances that favor K–12
private education. The evaluation assesses IFC’s investments
in K–12 private or nonstate schools during the fiscal years
2001 to 2020 in terms of access and equity of access,
education quality, relevance, and financial sustainability.
It focuses on IFC investment instruments and considers IFC
advisory services only as part of the Risk Sharing Facility
(RSF), which integrates advisory services with an investment
component. Evaluation findings support a single conclusion:
resumption of IFC investments in K–12 private schools is not
advisable without making substantial changes to IFC’s
approach. In their response to the evaluation, IFC noted
their agreement with IEG’s findings and announced that IFC
will not resume investments, which it halted in 2017, in
fee-charging K-12 private schools. The evaluation includes
lessons stemming from IFC’s 20-year experience that are
relevant for future support for private investments in
private K–12 education. It analyses the complexities of the
financial viability of these investments and constraints on
their impact on access to quality education for underserved groups. |
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