At a Glance

IFC has decided to maintain its freeze on investments in K-12 private, fee-charging schools, in line with a June, 2022 recommendation by the World Bank’s Independent Evaluation Group (IEG) . This decision applies to our direct investments, advisory work, and indirect investments in K-12 schools resulting from new investments in private equity funds. We initially took this step in response to concerns by external stakeholders about the impact of private schools on education quality and access and we requested that the IEG evaluate IFC investments in K-12 schools, reviewing impacts on educational outcomes, access, poverty and inequality. In its report, released in June, 2022, the IEG concluded that investments should not resume unless IFC makes changes in how it approaches investing in this sector. We support this conclusion.

This freeze does not impact our work to invest in education technology, the provision of ancillary services to K-12 schools and the development of infrastructure PPPs in K-12 that can help improve access and learning for all students, with a focus on the most vulnerable. IFC also continues its work in tertiary education, including universities and vocational schools, and in early childhood services.