Quality Education for Peru's Emerging Classes
Inter-American Development Bank (IDB)
Upwardly mobile Peruvians who want to invest in their children's education have few choices of private elementary and secondary schools that provide solid and modern academic grounding at reasonable rates. Finding topnotch yet affordable private schools in emerging neighborhoods where they live is even harder. The Inter-American Development Bank's Opportunities for the Majority Initiative (OMJ) is supporting a sustainable and market-based solution for Peru's emerging social classes. Colegios Peruanos is a private company whose schools will help children obtain an education on par with international standards and give them competencies to be citizens and employees in modern economies. OMJ is lending Colegios Peruanos up to $15 million to grow its network of private "Innova Schools from five to 26, and increase its student body by 23,000 by expanding two existing schools and building 21 new ones in upwardly mobile neighborhoods in Lima and other Peruvian cities.