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Lima, Peru, July 2, 2012—
IFC, a member of the World Bank Group, signed a loan agreement with Universidad Peruana de Ciencias Aplicadas, a leading private university in Peru and part of Laureate International Universities, to help build two new campuses, expanding access to quality education for undergraduate students and working adults.
IFC’s long-term local-currency loan, equivalent to $40 million, will support UPC’s activities in Peru. It will enable the university to continue offering innovative teaching methodologies with strong academic standards and providing its graduates with relevant skills to succeed in the job market.
“IFC’s support will allow UPC to reach a greater number of students, reducing gaps in demand for local quality education,” said Mariana Rodriguez, President and CEO of Laureate Peru. “We appreciate IFC’s support and long-term partnership, which strengthen UPC and allow us to continue expanding access to quality higher education in Peru.”
Higher education is a key priority for IFC in Peru as it promotes human development and increases employment opportunities for skilled professionals in the country.
Oscar Chemerinski, IFC Director for Manufacturing, Agribusiness, and Services in Latin America and the Caribbean, said: “This new financing shows IFC’s continued commitment to supporting education with strategic clients that have the ability to grow and develop skills that are relevant to the job market. This loan is part of a programmatic approach developed with Laureate to continue expanding access to education through other institutions within their worldwide network.”
About UPC
Universidad Peruana de Ciencias Aplicadas (UPC) is a university with strong academic standards and a focus on innovation and globalization. UPC was founded in 1994 and has been part of the Laureate International Universities network since 2004. It serves more than 26,000 undergraduate, postgraduate, and working adult students at its two campuses located in Lima. For more information, please visit
www.upc.edu.pe
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About Laureate International Universities
Laureate Education, Inc is a private company headquartered in Baltimore, Maryland that manages high-quality, innovative institutions of higher education. Today, Laureate Education, Inc. includes 58 accredited campus-based and online universities. Laureate’s more than 700,000 students are part of an academic community that spans 24 countries throughout North America, Latin America, Europe, North Africa, Asia and the Middle East. For information about Laureate International Universities, please visit
www.laureate.net
.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
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