Prince Charles' charity makes education impact in India with new bond
A Development Impact Bond (DIB), launched by Britain’s Prince Charles last year to help improve education for children in India, had enabled 30 percent more students to overcome learning gaps and achieve basic literacy and numeracy skills. Working across four programs in the states of Delhi and Gujarat, the DIB helped deliver programs to 600 schools, reaching over 100,000 students aged 5-11 in year one. Within one-year British Asian Trust exceeded their targets in improving proficiency levels comparatively non-DIB schools in India.
The results for year one were independently assessed and analyzed by Gray Matters India (GMI). The DIB claimed to be the largest of its kind for funding education, raised USD 11 million in its first phase of funding. The ultimate goal through DIB is to improve education standards in India, with the DIB paving the way for developing an outcome-based funding approach that has the potential to improve the lives of hundreds of thousands of children.