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The Educate Girls Development Impact Bond was the worlds first DIB in education, launched to improve access to quality education for marginalized girls in rural Rajasthan, India. This innovative financing model tied funding to outcomes, with UBS Optimus Foundation providing upfront capital of $270,000 to Educate Girls (the service provider). The Childrens Investment Fund Foundation acted as the outcome payer, promising to repay the investor with returns if agreed targets were met.

The initiative focused on two main outcomes: enrolling out-of-school girls and improving learning outcomes in literacy and numeracy for both boys and girls. Educate Girls implemented interventions in 166 schools across 140 villages, reaching 7,300 children. The project employed a child-centric curriculum and community engagement strategies to achieve its goals.

Over the three-year period, the DIB significantly exceeded its targets. It achieved 116% of its enrollment goal, bringing 768 out-of-school girls into the education system. It reached 160% of its learning target, with students in program schools showing learning gains equivalent to an additional year of instruction compared to their peers.