Kenya To Benefit From USD 100 million education fund
Kenya will benefit from a Ksh11 billion (USD 100 million) education fund as part of the Opportunity International EduFinance program, which aims to increase access to education for children from low-income families.
The fund, which will be created through a collaboration between Opportunity International and Oikocredit, will aid in the fight against the global education crisis, which has seen more than 617 million children worldwide stay out of class.
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The program also targets financial institutions that provide capital and training in the education sector, allowing for the provision of critical resources such as classrooms, washrooms, dormitories, and qualified teachers.
Over the next three years, Opportunity International and Oikocredit will mobilize the funds, with a near-term focus on Ghana, Kenya, Nigeria, Senegal, and Uganda.
The collaboration is a unique agreement between tenured, mission-aligned global organizations to support the expansion of access to quality education, particularly for low-income children.
Atul Tandom, CEO of Opportunity International, stated that the program is part of the organization’s ongoing effort to provide access to quality education through the provision of capital at a time when an estimated 264 million children worldwide are out of school due to the COVID-19 pandemic.
“Our aim is to help those who need it most to stand on their own feet, earn a sustainable livelihood, and send their children to school. This collaboration further solidifies Opportunity International’s position as a waymaker in providing access to capital and training to get more children into schools,” he said.
The program also intends to broaden its reach in Africa, Latin America, and Asia in order to make a significant contribution to the advancement of the Sustainable Development Goals.
“We’re proud to be partnering with Opportunity International to improve access to education for low-income people via training and financing new initiatives together with financial inclusion partners,” Atul said
