More than 251 million children and young people worldwide are out of school, and millions more sit in classrooms without learning even the most basic skills. In low- and middle-income countries, 70 per cent of ten-year-olds cannot read and understand a simple text, rising to 90 per cent in the poorest countries. A major driver is a lack of investment: low- and lower-middle-income countries face an annual financing gap of USD 97 billion to achieve UN Sustainable Development Goal 4 on quality education.
Opportunity International Savings and Loans’ EduFinance programme responds by supporting affordable non-state schools through School Improvement Loans. These give school owners access to capital for their most pressing needs, such as:
- building new classrooms, bathrooms or dormitories to boost attendance and enrolment, particularly for girls;
- hiring new teachers, reducing class sizes, and buying textbooks, desks or computers;
- improving health and safety with metal roofing, concrete flooring, security fencing and clean water systems.
Alongside financing, Opportunity’s School Leadership Academy runs workshops that help school owners understand and apply for improvement loans, while building stronger links between schools and financial institutions.
By connecting private-sector finance to education providers, EduFinance is helping more children in low- and middle-income countries access better, safer schools.
