Impact Bond: Quality Education India Development Impact Bond 
Stage of development: Complete
Jurisdiction: IN
Jurisdiction notes: source2
Policy sector: Education
Social challenge: While India has made considerable progress towards achieving universal primary school enrolment, the quality of education remains a key challenge. Many Indian children still lack basic literacy and numeracy skills, exacerbated even further with the COVID-19 pandemic.
Intervention: The QEI DIB aims to support the education crisis in India by funding four high performing service providers to improve grade appropriate learning outcomes for more than 200,000 primary school aged children over four years. The service providers are KEF, GyanShala, SARD and Pratham Infotech Foundation.The service providers are delivering four interventions with a mix of direct and indirect education model types, including: directly operating classroom (direct), supplementary programmes (direct), and teacher/ school leader training (in-direct).
Primary SDG goal: 4
Date outcomes contract signed: 2018-07
Start of service provision: 2018-04
Anticipated end of service provision: 2022-07
Total investment commitment currency: USD
Total investment commitment: 3000000
Total investment commitment (USD): 3000000
Maximum potential outcome payment: 9180000 USD
Maximum potential outcome payment (USD): 9180000
Maximum potential loss: 3000000
Maximum potential return type: IRR
Maximum potential return: 0.08
Configuration of the contracting parties: Framework  contract between main parties with individual sub-contracts 
Investor repayment: 8
Finance notes: The investor achieved the targeted return.
Target population: Primary school-aged children 
Targeted number of service users or beneficiaries: 300000
Targeted unit type: Individual
Actual number of service users or beneficiaries engaged: 200000
Actual unit type: Individual