The Quality Education India Development Impact Bond programme was convened and launched in 2018 as a public-private partnership between risk investors, service providers and outcome funders. We raised a fund of $11m to enable this to happen.
Initially, the programme will improve the quality of literacy and numeracy learning for hundreds of thousands of primary school children from marginalised communities in India.
The world faces a learning crisis and this programme is working to support the Sustainable Development Goal of quality education for all. In India, this problem is acute and a typical Indian primary school child is at least two grades behind the level expected for their age in literacy and numeracy.
Our programme focuses on improving quality of education through teacher and head-teacher training, remedial education for slow learners, whole school development and educational technology.
We have put in place performance management to ensure that the interventions work and can be taken to scale.
As the programme progresses, we want to create an education rate card, setting out the costs of delivering specific outcomes. Such a card can be used by government and funders to make informed policy and spending decisions, and improve education across the whole country.
The Quality Education India DIB is an innovative collaboration between the British Asian Trust, UBS Optimus Foundation, the Michael & Susan Dell Foundation, Tata Trusts, Comic Relief, the Mittal Foundation, the Lawrence Ellison Foundation, BT and DFID. Funding is invested in four established local NGOs, and their outcomes are measured by an independent evaluator.