India Education Outcomes Fund (IEOF)
The India Education Outcomes Fund (IEOF) is a catalytic platform established by Social Finance India (SF-IND) to provide sustainable and innovative funding at scale for delivering educational outcomes in India. The IEOF aims to create transformational impact in Indian education by funding USD 1 billion of outcomes-focused activities by 2030. It addresses the learning crisis and equity concerns in Indias education system by bringing together service providers, investors, and funders to set up scalable, outcomes-focused solutions. The IEOF differs from traditional funding mechanisms and typical impact bond structures by creating a marketplace to achieve impact at scale and overcome limitations of individual Development Impact Bonds (DIBs). It utilizes an Outcomes Rate Card approach to scale Impact Bonds, defining a menu of desired outcomes and the amount payable for each achieved outcome. This innovative financing model focuses on programmatic outcomes, ensuring that funded programs are scalable, measurable, and impactful in improving education quality.
Pros
Focuses on measurable outcomes rather than inputs, promoting efficiency and effectiveness
Encourages innovation and flexibility in program delivery
Builds capacity of service providers and enhances transparency in education programming
Creates a knowledge and data repository to inform future program design
Catalyzes innovative finance and mobilizes government resources for sustainable impact
Cons
Complex structure requiring coordination among multiple stakeholders
Potential challenges in defining and measuring appropriate outcomes
Partners
Social Finance India (SF-IND)
Tata Trusts
Global Steering Group for Impact Investment (GSG)
Government of India
Various investors and service providers