Saturday, March 17, 2012

IFC Concludes Fifth International Private Education Conference

Dubai-UAE: 15 March, 2012 – International Financial Corporation (IFC), a member of the World

Bank Group, concluded its fifth international private education conference titled “Making Global

The event which ran from 6-8 March brought together leading educators, policymakers, and service
providers to help private educational institutions in developing countries expand access to services,
improve standards of quality and efficiency, and facilitate the international exchange of best practices.

Dimitris Tsitsiragos, Vice-President, Eastern and Southern Europe, Central Asia, Middle East and
North Africa, IFC, said: “High quality and market relevant education is particularly important to the
MENA region. The Arab world is currently facing youth unemployment rates averaging around 25
per cent, the highest of all regions. A comprehensive approach between the governments, private
companies, providers of education, civil society, multilateral institutions, and young people is needed.
IFC stands ready to provide the necessary support to both the providers of education as well as
private firms in the region and elsewhere. ”

Attendees to the conference comprised of IFC clients who are leaders of private education institutions,
policymakers with local and national governments, and service providers. Key topics included the
global skills agenda, managing quality through growth, understanding markets, the need for standards,
the role of equity finance, and challenges to education in the 21st century.

On the third and concluding day of the event, a trip to Dubai International Academic City (DIAC) was
organized and ‘Global Higher Education Hubs for Tomorrow’ was the key topic discussed.

Ayoub Kazim, Managing Director of DIAC said: “Dubai International Academic City’s support to the
International Private Education Conference, hosted by International Finance Corporation for the first
time in the UAE, comes on the back of our commitment to invest in strengthening our human capital
through enriching the region’s higher education sector. The conference provided a perfect platform for
decision makers, service providers and academics to share best practices and exchange information.”

Investment in private education is a strategic priority for IFC. IFC’s education portfolio stands at more
than US$400 million, encompassing 69 projects in 33 countries—including several of the poorest
countries. The total value of these projects exceeds US$1.5 billion. IFC’s private education projects
have helped benefit 1.5 million students while providing employment for 16,000 people. Using its deep
experience in private education - unique among multilateral institutions - IFC has established itself as
a center for networking and information among investors worldwide.

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