Britain’s Prince Charles Launches Education Impact Bond for India

Simran Saini

Updated On: February 08, 2018 11:38 am IST

  • Development Impact Bond will work to improve the education and literacy rate of marginalised communities in India.
  • The bond is launched with the support of UK government's DFID, Mittal Foundation, Comic Relief & the UBS Optmus Foundation. 
Britain’s Prince Charles Launches Education Impact Bond for India

Britain's Prince Charles has a launched a new Development Impact Bond (DIB) worth $10 million to work and improve the education of over 200,000 children in India. DIB is one of the largest bonds in South Asia and was set up the Royals 10 years ago to fight poverty and other related issues in South Asia.

Also Read: IIMs to Launch New Courses, MoU with Foreign Universities

Prince Charles, heir to Britain's throne said that this bond is the largest of its type and also revealed that Sir Ronald Cohen, the champion of global impact investing has been a strong advocate of finance for this bond.

This bond has been launched with the support and trust of the organisations and foundations such as UK government’s Department for International Development, Mittal Foundation, Comic Relief, and the UBS Optimus Foundation. The main of the DIB is attract new capital into development related projects.

Also Read: Tata Motors Signs MoU with Symbiosis International for Academic Collaboration

Under this bond, DIB will provide funding to local Indian not-for-profit delivery partners for four years. They will be responsible for delivering a wide range of operational models such as direct school management, principal and teacher training and other supplementary education programmes.

The main focus of the bond is to improve literacy level in the marginalised and subjugated communities of the country. Manoj Badle, Chairman of British Indian Trust stated that this is one of the most exciting periods in Trust’s history as it will impact the lives of millions of people. He also mentioned that it is a privilege to be part of such dynamic and innovative charity.

Are you feeling lost and unsure about what career path to take after completing 12th standard?

Say goodbye to confusion and hello to a bright future!

news_cta
/news/britains-prince-charles-launches-education-impact-bond-for-india-12546/

Do you have a question? Ask us.

  • Typical response between 24-48 hours

  • Get personalized response

  • Free of Cost

  • Access to community

Recent News

Subscribe to CollegeDekho News

By proceeding ahead you expressly agree to the CollegeDekho terms of use and privacy policy

Join us and get exclusive education updates!

Top
Planning to take admission in 2024? Connect with our college expert NOW!