The Universidad San Ignacio de Loyola (USIL), a leading private university in Peru, will receive a $23.5 million loan from the Inter-American Development Bank (IDB) to double its capacity and expand access to affordable education programs for low-income students.
IDB financing will allow USIL to double its capacity from approximately 12,000 to 25,000 students over the next ten years.
Moreover, the loan will help USIL establish a new student guarantee fund, support a new technical training institute, and increase its participation in Beca 18, a Peruvian government flagship scholarship program targeting economically disadvantaged youth.
It will also help expand and upgrade USIL’s infrastructure using green technology that permits the reduction of water and energy consumption.
The project, which is also being financed by Banco de Crédito del Peru and the Canadian Climate Change Fund, comes as years of sustained economic growth in Peru has fueled growth of an emerging middle class eager to improve its living standards through high-quality college education. Currently only three out of ten Peruvian high school students have access to higher education. Read more...