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IFC Supports Expansion of Higher Education in Argentina with $10 Million Loan to Universidad del Salvador


In Washington, DC:
Elizabeth Price
Phone: (202) 458-0387
E-mail: EPrice@ifc.org

In Buenos Aires, Argentina
Adriana Gomez
Phone:
E-mail:AGomez@ifc.org

Washington, DC, May 20, 2016—IFC, a member of the World Bank Group, will provide Universidad del Salvador (USAL), one of the largest private universities in Argentina, with a $10 million,10-year loan to support expansion of opportunities for high-quality, tertiary education in Buenos Aires. The loan will fund the construction of a modern, environmentally sustainable building that can accommodate more than 5,000 students and enable the university to increase overall enrollment by about 2,500 students.

This is IFC’s second investment in USAL, a non-profit institution with a reputation for providing high-quality education and a strong track record for helping its students find jobs within six months after graduation. In 2000, IFC extended helped finance construction of the university’s campus in Pilar.

“We are excited to move forward with our plans to help more students achieve their career goals through access to an affordable education that prepares them for employment,” said University Rector Dr. Juan Alejandro Tobías

Alzbeta Klein, Director for IFC’s Manufacturing, Agribusiness and Services department said, “Human capital is the foundation for a strong economy and society. We are pleased to support expansion of facilities that will enable USAL to educate more students to prepare them to get jobs and contribute to sustainable economic growth in Argentina.”

IFC is the largest multilateral investor in private education in emerging markets.  Over the past 15 years, IFC has invested $1.5 billion in more than 110 education projects taking place in 39 countries.  IFC’s role in education in Latin America and the Caribbean is focused on supporting institutions with sufficient scale to deliver high-quality and affordable education. With 90 percent of USAL graduates employed after six months, supporting this institution fits well within IFC’s education strategy.

In the past twelve months, IFC has committed over $1.5 billion in sustainable private sector projects in Argentina, becoming the largest international source of financing to the country’s private sector during this period. IFC finances projects in critical sectors such as agribusiness, manufacturing, health and education, finance and energy, for spurring economic growth, innovation and job creation in the country.

About Universidad Del Salvador
Universidad Del Salvador (USAL) is a private university in Argentina founded in 1959 by the Society of Jesus, in Buenos Aires, Argentina. The educational activity of USAL has been led by a humanistic and Christian conception that favors the education of people who support and are opened to the dialogue between science and faith. More than 22,000 students are studying at present at USAL. The academic staff is composed by more than 2,500 professors and researchers. For more information, please visit www.usal.edu.ar

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org

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