The $ 90.56 million loan seeks to increase the rate of students completing high school.
The Inter-American Development Bank approved a loan for $ 90.56 million to improve education in Paraná, Brazil. The initiative seeks to improve the quality of secondary education by promoting digital transformation, increasing coverage of relevant technical career education in high school, and improving the quality of services to facilitate the transition from primary education to higher education and the labor market.
In addition, the initiative seeks to improve the quality of the infrastructure and increase the operational and strategic management capacity of the Secretary of State for Education and Sports [Secretary of State for Education and Sports] by improving its systems and educational management process and the allocation of resources.
With 11.4 million inhabitants, Paraná is the sixth most populous state in Brazil. In 2019, 7.9% 2 of the population between 15 and 17 years old were not attending school, and 17.7% of young people were neither studying nor working. In 2018, only 65% of students completed high school on term. During the last decade, the quality index of secondary education in Paraná decreased from 3.9 to 3.76. Furthermore, the current pedagogical offering does not adequately prepare students to learn the skills necessary to succeed in the future.
This operation will directly benefit more than 350,000 high school students and train 30,000 teachers. Indirectly, the operation will benefit another 500,000 elementary and middle school students and 67,000 teachers and public officials.
Boosting the social progress of vulnerable populations and improving 21st-century skills preparation are two of the routes that the IDB Group has identified in its Vision 2025 for the region to achieve an inclusive and sustainable recovery.
The loan has a 5-year disbursement period, a 6-year grace period, and an interest rate based on LIBOR.
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
João Paulo Cossi Fernandes