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Stimulating Investment in Global Education

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Title: Stimulating Investment in Global Education


1
Stimulating Investment in Global Education
February 2003
2
Overview
  • The Story To Date
  • Why EdInvest?
  • Pressures for Change
  • - Global Education Market
  • - Education Reform
  • - New Roles
  • Some Lessons Learnt from West Africa
  • The Story going Forward
  • Products and Services
  • Outcomes and findings
  • Accomplishments in 2002
  • Plans for 2003
  • Room for Partnership?

3
The Story To Date
  • Why EdInvest?
  • Pressures for Change
  • - Global Education Market
  • - Education Reform
  • - New Roles
  • Some Lessons Learnt from West Africa

4
Why EdInvest?
  • Global education industry
  • IFC receiving education proposals
  • Education reform

5
Global Education Market
  • 113 million children worldwide have no access to
    primary education. (World Education Forum,
    Dakar)
  • Global demand for higher education will reach 160
    million by 2025, up from 84 million today.
    (Merrill Lynch)
  • Education expenditure in developing countries is
    inadequate to cover rising enrollments (UNESCO
    World Education Report)
  • Over the past 50 years, K-12 enrollment in
    developing countries has increased by a factor of
    8, and higher education enrollment has increased
    by a factor of 14.
  • Public expenditure per student has remained
    generally flat in relation to GNP, particularly
    for the least developed countries.

6
Household Spending ( of total ed. spending) all
levels
Uganda Chile Korea Indonesia United States Ma
li Japan Germany France Denmark Netherlands
Sweden
57
45
41
37
26
25
23
22
9
7
3
2
0
10
20
30
40
50
60
7
Private Enrolment in Tertiary Education
8
Education Reform
  • Growing private provision
  • Vietnams semi-public schools
  • Deregulation eg, Senegal, Tanzania

9
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10
Competition
  • Scholarships and vouchers
  • Chile, Colombia, Côte dIvoire

11
Contracts
  • Private management and subsidies
  • Kenya, West Africa

12
Public Role in Education
  • Income distribution
  • Capital market imperfections
  • Information asymmetries
  • Externalities

13
Private Role in Education
  • Reduce fiscal burden
  • Improve efficiency
  • Enhance choice and diversity
  • Increase accountability

14
Financing and Provision
15
Regulatory Framework West Africa
  • The Gambia Senegal Côte dIvoire
  • Entry/Exit Limited Relatively liberal Authorized
    or
  • Regulations No waiting period chartered
    schools
  • Authorized or Take account of recognized
    schools impact on existing schools
  • Fees No limits for No limits Ministry of fully
    private Commerce
  • Grant-aided ratifies fees
  • limited
  • Direct No for private Recognized Subsidies to
    primary
  • Subsidies fee-paying private schools schools
  • Yes for Grant- subsidized Public sponsorship
  • aided of students in private
  • schools

16
Regulatory Framework West Africa
  • The Gambia Senegal Côte dIvoire
  • Subsidized Yes No No
  • land/
  • buildings
  • Tax/Customs Exempt from No education No
    education
  • Exemptions duties, income specific specific
    tax
  • sales taxes, exemptions. Exemptions
  • training/ex-pat Non-profit -only for
    non-profit levies exemptions
  • Curriculum Free Centrally Centralized, but
  • prescribed but variations allowed
  • variations allowed for French schools
  • School Hours Free Free Free
  • School Year Free Free Set centrally after
  • discussion

17
Private Education in West Africa, late 1990s
18
Growth in Enrollments (private institutions, )
66
Tertiary
8
Secondary/Senior Secondary
72
20
32
Middle/Junior Secondary
123
6
123
Primary
40
0
20
40
60
80
100
120
140
Côte dIvoire(Average annual growth from 1991/92
- 1995/96)
Senegal (1987/88 - 1997/98)
The Gambia (1993 - 1996)
19
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20
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21
The Story Going Forward
  • Products and Services
  • EdInvest Outcomes
  • Accomplishments in 2002
  • Plans for 2003
  • Room for Partnership?

22
Products and Services
  • Engages in four major activities
  • conducts research into market-based solutions in
    education markets, with a particular emphasis on
    developing countries
  • undertakes consultancies that enable the
    discovery of underlying patterns and processes
    that are at work in the burgeoning global
    education industry
  • offers training modules with a particular focus
    on the institutional requirements for
    public-private partnership and
  • markets and promotes conferences.

23
EdInvest Outcomes
  • Internal IFC-World Bank dialogue, strategy, new
    department, investments
  • External demand for consulting
  • News/reviews of global industry
  • Assistance to education entrepreneurs

24
EdInvest Outcomes
  • Internal IFC-World Bank dialogue, strategy, new
    department, investments
  • External on-line resources
  • News/reviews of global industry
  • Market studies (Africa, Eastern Europe)
  • Conferences

25
EdInvest Outcomes
  • Market surveys (W. Africa)
  • Regulatory framework is key
  • Education entrepreneurs worldwide
  • Research program

26
Accomplishments in 2002
  • EdInvest has achieved a lot during its first year
    of operation
  • EdInvest website of global investment
    opportunities
  • monthly newsletter about global education market
    activity distribution has doubled within the
    past year to more than 7,000 individuals
    worldwide
  • global education conferences in Athens, Lisbon,
    Phoenix and London
  • market analyses on Saudi Arabia and Ethiopia and,
    in the Balkans, Albania, Bulgaria, Croatia, FYR
    of Macedonia, Romania
  • training through the United Nations Training
    Institute, the World Bank Institute and the
    Institute of Economic Affairs, and
  • leveraged additional resources from multi and
    bilateral contracts and commissions from the
    private sector.

27
Activities for 2003 (through June) - Actual
  • Consultancies
  • Global Study Private Education for the Poor
    (Templeton Foundation)
  • India Study of Demand and Supply for SME in
    Education (IFC)
  • Saudi Arabia Partners in Progress (GKSA)
  • Rwanda Private Education Sector Study (DfID)
  • Africa (pending) Secondary Education in Africa
    Study Financing and Costs (WB)
  • Conferences
  • India Education India (April)
  • Portugal World Education Market (May)

28
Activities for 2003 - Planned
  • Development and rollout of an Education
    Development Finance Facility for Private
    Education.
  • Establishment of a virtual Community of
    Practice in which public and private education
    stakeholders share their reflections and
    findings and
  • Hosting of global e-discussions.

29
The Education Development Finance Facility
  • Objective
  • To create a vehicle that can enable disbursement
    of small amounts (eg. 200,000 to 1.5 million)
    to education enterprises in a secure manner.
  • Required
  • Information
  • - access for enterprises to existing sources of
    commercial finance
  • - demand from enterprises for commercial finance
    products
  • - potential partners among commercial providers
    of finance
  • - parameters and possible structures for an IFC
    sponsored facility.
  • Infrastructure
  • - to disburse the funds
  • - to ensure quality.
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