History has proven that when a crisis hits, the poor get hit the hardest. The global pandemic has created an education emergency: students and schools are left in uncertain circumstances. UNESCO estimates that 1 billion children are out of school. As of August, two-thirds of schools worldwide remain completely closed and 24 million children are at risk of never returning. Children unable to return to school are at high risk of early marriage and child labor, which are already on the rise.
Opportunity EduFinance is assessing daily the evolution of COVID-19, working quickly to mitigate its impact on our clients and their families, and responding to needs as they arise. To adequately meet the severe and urgent needs for EduFinance’s partner schools, Opportunity is urgently raising funding to help mitigate the impacts of the pandemic as much as possible.
Impact: The funding will help support 1,700 schools during this uncertain time, reaching more than 20,000 teachers and staff, their families, and 430,000 students.
• Cash assistance for schools to keep teachers on payroll. While schools are closed, school fee payments have also ceased. For school leaders, the biggest risk during this crisis is running out of operational funds to keep their teaching staff on payroll.
• Support for local EduQuality staff, focused on trainings and delivery of new crisis-management resources for educators.
• Loan Moratoria and cash availability. EduFinance’s financial institution partners are strongly committed to supporting clients through this crisis and will be restructuring loans where needed.