September 14, 2018
The British Asian Trust, the Michael & Susan Dell Foundation, the UBS Optimus Foundation, and Tata Trusts, together with Comic Relief, the UK Department for International Development (DFID), the Mittal Foundation, and British Telecom, have launched a development impact bond in support of quality education in India.
The largest education development impact bond to date has raised $11 million in its first phase and, if successful, will support efforts to improve literacy and numeracy skills for more than three hundred thousand children. Beneficiaries of the bond were selected for their diverse and proven interventions and include Gyan Shala, which works with poor rural and urban slum children; the Kaivalya Education Foundation, a Piramal initiative that works to strengthen education and youth leadership; and the Society for All Round Development, which will work within the DIB mechanism to improve learning outcomes for thousands of children.
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