school fees

The World Bank’s International Finance Corporation (IFC) has quietly divested from New Globe Schools, better known as Bridge International Academies (BIA), a for-profit school chain operating in four African countries and India. The IFC has invested $13.5 million in BIA since 2014, with the intention of supporting the company’s expansion to other countries.

The World Bank continues to steadily increase support for privatized education in lower-income countries despite mounting evidence that this approach is freezing out poorer children ―especially girls― and doesn’t mprove education quality. Oxfam’s new report "False Promises" says the Bank should immediately stop promoting Public Private Partnerships (PPPs) that expand private education.

A growing body of evidence shows that education public-private partnerships (PPPs) which support private schooling are too often failing the most vulnerable children and risk deepening inequality. Despite this, the World Bank has been increasingly promoting education PPPs in poor countries through its lending and advice.

A decent education or quality healthcare is a luxury only the rich can afford in too many countries. Across the globe 262 million children are out of school. 10,000 people die every day because they can’t access healthcare. Teachers and public health care workers like Nellie and Dorra dedicate their life to great public services that benefit the poorest. And fight inequality every day.

The World Bank and the International Monetary Fund cannot allow political and economic shocks to hijack their ambitions to combat climate change and curb inequality, warned Oxfam.

Oxfam's verdict on the World Bank and International Monetary Fund Annual Meetings.