ImpactAlpha, November 3 — With its lending partners, Opportunity International, a Chicago-based nonprofit, has mobilized $2.3 billion to support 8,800 schools in 30 low-income countries.
Oikocredit, a Dutch impact investor in emerging markets, will back Opportunity International’s partners making loans to improve school infrastructure, support teachers and bolster tuition aid for students.
“Oikocredit is a social impact investor with the capital on hand to put to work,” Opportunity International’s Randy Kurtz told ImpactAlpha.
The partnership aims to increase access to affordable and quality education for 1.6 million children in low-income countries, including Ghana, Kenya, Nigeria, Senegal and Uganda.
An estimated 264 million children globally are still out of school, according to Opportunity International’s Atul Tandon. The nonprofit’s EduFinance program has facilitated $442 million in loans to help keep 2.8 million students in school.