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 DFC Statement on the IFC Bridge International Academies Case
 March 21, 2024
      
            **WASHINGTON, D.C.** – DFC is profoundly concerned and saddened to learn of the allegations of abuse regarding the Bridge International Academies project detailed in the report by the International Finance Corporation’s (IFC) Compliance Advisor/Ombudsman. DFC works to ensure projects produce positive developmental impacts, apply best practices with respect to environmental and social safeguards, and respect human rights.In 2013, DFC’s predecessor, the Overseas Private Investment Corporation (OPIC), provided a $10 million direct loan to Bridge International Academies for the development and operation of affordable private schools in Kenya. The loan was fully repaid in 2022.As with all projects, OPIC conducted environmental and social due diligence during this period. While uncovering and addressing several issues relating to school licenses, teacher certification, poor sanitation conditions, and teacher compensation and treatment, an internal review to date indicates that OPIC was not aware of or informed by Bridge, IFC, or others of any allegations of child sexual abuse at the schools.DFC continues to monitor this difficult situation as it evolves. CEO Scott Nathan has requested that DFC’s Office of Accountability (OOA) conduct a robust, independent review of the OPIC/DFC overall experience with the Bridge International Academies project.###*The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.*
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