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About IDB EYE (Education, Youth, Employment) Bonds

Solving the challenges of poverty and inequality in Latin America and the Caribbean requires a multi-faceted, carefully planned approach that coordinates investments in human capital – people – over the course of a lifetime. The Inter-American Development Bank (IDB), a pioneer in the realm of social bonds, has been working for decades to improve lives in Latin America and the Caribbean to fund programs in three prioritized areas: Education, Youth, and Employment (EYE).The IDB has focused on a “life cycle” approach to build human capital from early childhood care and education, through formal primary and secondary education, as well as programs that facilitate labor market placement by improving the transition from school to work through vocational training. The EYE Bond promotes the following:

Education: IDB promotes effective teaching and learning among children and youth in Latin America and the Caribbean by supporting high standards, investing in early childhood development and school readiness, enhancing teacher training, ensuring adequate resources for learning, improving school infrastructure, and providing graduates with the skills needed for work and life.

Youth: IDB interventions are designed to promote the accumulation of human capital from early childhood care to youth programs, through the acquisition of practical life skills to reduce the likelihood of young people to engage in high risk behavior that may translate into economic and social costs for the individual, as well as society as a whole.

Employment: These projects assist the design, implementation and evaluation of policies to improve job opportunities and develop workforce skills. IDB-supported projects also increase the coverage and sustainability of social security, while improving efficiency and productivity.

EYE bonds carry the triple-A credit rating of the IDB, not the risk of the underlying projects. EYE Bonds provide investors with not only with a financial return commensurate to a triple-A credit but a social return-developing human capital in Latin America and the Caribbean – as well.

Selected EYE Eligible Project Summaries

 

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Bolivia: Grow Well to Live Well (BO-L1064)

Through the Ministry of Health, the Growing Well to Live Well program will provide comprehensive services, implementation of standards and supervision of quality care, in two departments: Potosí and Chuquisaca. The general objective of the program is to help improve the cognitive, social, emotional, and physical development of children, improving access and quality offered to children under 4 years of age. The program strengthens child care and parenting practices through home visits and strengthening Childcare Centers. It also creates Stimulation Centers to evaluate and treat children with physical, cognitive and socio-emotional delays. It also aims to improve inter-institutional coordination.

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Paraguay: Program to Support Job Placement (PR-L1066)

The purpose of the program is to help improve job placement for young people who participate in new training models, and the expected outcome is to build the capacity of the General Employment Directorate (DGE) to coordinate services through a one-stop window. The program will also set up a web portal and an intermediation system in Paraguay.

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Peru: Program to Improve Early Education in Ayacucho, Huancavelica and Huanuco (PE-1062)

The general objective of the program is to improve the quality of early education services for children ages 3 to 5 years in the departments of Ayacucho, Huancavelica, and Huanuco. The specific objectives are: (i) to ensure suitable, safe educational facilities for children that will aid the teaching/learning process; and (ii) to improve teaching practices and management of education agents through support, relevant educational materials, and family participation, to encourage the children’s learning.

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Barbados: Skills for the Future, BA-L1016

The objective of this program is to support the Government’s Human Resource Development Strategy, with an emphasis on improving the quality and relevance of secondary education and the effectiveness of technical and vocational training and education by forging close partnerships between business and training institutions. These partnerships are key to ensure that training is demand-driven and responds to the needs of employers while also resulting in skills certification for the trainees.

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Belize: Education Quality Improvement, BL-1018

The objective is to improve the quality of primary education and the governance of the Belize education system. This objective is being achieved by training 50% of classroom teachers, as well as instructors at the Teacher Education Institutes that train future teachers. The program also trains some 37% of primary school principals in instructional leadership and administration, and creates an Education Management Information System.

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Bolivia – Program to Support Employment, BO-L1051 

The objective of this operation is to support the Ministry of Labor, Employment and Social Security in its efforts to expand the coverage and effectiveness of its policies and programs, helping to achieve better integration of workers into the labor market. This objective will be achieved through a program comprising the following three components: (i) expansion of the Employment Service; (ii) a program to support employment for adults; and (iii) planning, analysis of employment policies, and evaluation.

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Chile: Program to Support SENCE’s Effectiveness,

CH-L1064

The objective of this operation is to improve the efficiency and effectiveness of labor policies for productivity, employability and equity. A central element will be the modernization of labor markets institutions. This objective will be achieved through a program comprising the following three components: (i) improving efficiency and effectiveness in public spending in job training and training to improve formal employment; (ii) improving quality and relevance of training policies; and (iii) improving administrative management

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Mexico – Multiphase Training and Employment Support Program (PACE) – Phase III, ME-L1114

The purpose of the multiphase program is to help create the conditions for a growing economy that creates jobs to promote worker development, employability, mobility, and productivity. The objective of PACE III is to support the Ministry of Labor (STPS) in improving the effectiveness and efficiency of labor market policies and programs.

 

IADB Projects Eligible for EYE Bond Financing

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Education

Name of Project Country Project ID EYE Bond Allocation (USD)
Second Basic Education Improvement Program (2nd BEIP) Phase II Suriname SU-L1038 998,705
Expansion and improvement program of early
childhood education and elementary education
Brazil BR-L1329 14,913,271
Productive Communitarian Secondary Education Bolivia BO-L1071 8,800,000
Quality and Equity of Education - PROMEDU IV Argentina AR-L1180 40,000,000
Escuela Viva Program II Paraguay PR-L1017 5,442,076
Youth Development Program - Phase I Jamaica JA-L1005 702,967
Supplemental to the Primary Education Support Project (PESP) Jamaica JA-L1021 1,219,549
Community Education Program-Phase II: Social Equity Builders Mexico ME-L1033 6,507,398
National Infrastructure Program for the Universalization Education with Quality Ecuador EC-L1075 43,000,000
Program to Support the Policy on Improving Equity in Education - PROMEDU II Argentina AR-L1108 15,228,866
Educational Facilities and Learning Quality Panama PN-L1064 5,615,591
Secondary and Technical Education and Teachers Training Support Program Uruguay UR-L1050 13,751,285
Dignified Schools Program (PED) Mexico ME-L1086 166,903,656
Program to Improve Early Education in Ayacucho, Huancavelica and Huánuco Peru PE-L1062 18,134,346
Support Program to Quality Education Plan for Prosperity Colombia CO-L1093 21,289,539
Innovation in School Infrastructure Panama PN-L1072 47,775,221
Skills for the Future Barbados BA-L1016 9,255,126
Second Basic Education Improvement Program (2nd BEIP) Suriname SU-L1019 4,191,494
Building and Equipping of Education Infrastructure Costa Rica CR-L1053 15,000,000
Second Individual Loan to Support the 10-year Education Plan Dominican Republic DR-L1056 47,385,887
Program to Improve the Quality and Expand Coverage of Basic Education Brazil BR-L1327 37,320,451
Program to Support the Policy on Improving Equity in Education - PROMEDU III Argentina AR-L1152 180,000,000
Program for Accelerating Progress of Education in Amazonas Brazil BR-L1328 30,061,540
Education Quality Improvement Belize BL-L1018 5,019,508
Support for Primary and Secondary Math and English Education Program Uruguay UR-L1093 5,486,592
Early Childhood Education Expansion and Improvement Program Chile CH-L1082 61,366,147
Total   26 $805,369,215

Youth

Name of Project Country Project ID EYE Bond Allocation (USD)
Program to Support the National Integrated Care System Uruguay UR-L1110 1,746,231
Social Investment Program in Buenos Aires Province Argentina AR-L1007 31,937,211
Support to the Action Social Center of Music Prog. Phase II Venezuela VE-L1017 18,844,537
Program of Integrated Public Policies for Fortaleza Youth Brazil BR-L1122 3,996,115
Strengthening of Policies on Childhood, Adolescence and Family/a> Argentina AR-L1118 5,937,200
Grow Well to Live Well Early Childhood Development Program Bolivia BO-L1064 11,440,000
Program to Accompany the Implementation of the National Policy Nicaragua NI-L1059 5,129,791
Support to Early Childhood Development Paraguay PR-L1051 1,665,091
Total   8 $80,696,176

Employment

Name of Project Country Project ID EYE Bond Allocation (USD)
Program to Support Employment Bolivia BO-L1051 7,952,000
Program to Support Job Placement Paraguay PR-L1066 1,027,175
Multiphase Training and Employment Support Program (PACE) Phase III Mexico ME-L1114 115,840,260
Program to Support SENCE's Effectiveness Chile CH-L1064 4,600,692
Human Resources Training Program (Proforhcom) Mexico ME-L1142 33,002,721
Total   5 $162,422,847

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Press Releases / Media

Press Releases

October 23, 2015
IDB Issues New Education, Youth and Employment Uridashi Bonds

July 13, 2015
IDB launches new note under EYE Bond program

Oct 8, 2014
IDB issues $5 million Callable Step-Up EYE Bond” under the EYE Bond Program

Sep 17, 2014
IDB launches inaugural Education, Youth, and Employment (“EYE”) Bond

Blogs

November 20, 2014
Bonds or EYE Bonds?: Citi Talks EYE Bonds and Why They Stand Apart – Part IIi

November 14, 2014
Bonds or EYE Bonds?: Citi Talks EYE Bonds and Why They Stand Aparti

Oct 22, 2014
EYE Scream, You Scream, We All Scream for EYE Bonds!