Education Improvement Project
The Education Improvement Project in the Republic of Sakha (Yakutia) aimed to enhance educational outcomes among secondary school students. This project was the first Russian social impact initiative focused on education, incorporating distance learning as a key component. The primary objective was to improve students performance in Russian and mathematics by at least 10% through innovative teaching methods and technology integration in classrooms. The project employed a social impact bond model, where private investors provided upfront capital for educational interventions, with payments contingent on achieving specified educational outcomes. This results-based financing model was designed to align financial incentives with educational success, promoting efficient resource use and accountability among service providers. By the end of the project, there was a reported 10% increase in the weighted total of grades in the State Final Examinations and academic competitions compared to 2019.
Pros
Aligned financial rewards with educational success, promoting accountability.
Encouraged the use of technology and innovative teaching methods to improve learning outcomes.
Cons
Involved complex contractual arrangements and require rigorous outcome measurement systems.
Partners
Ministry of Education and Science of the Republic of Sakha (Yakutia)
Higher School of Economics National Research University
The Far East and Baikal Region Development Fund