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São Paulo, Brazil, June 16, 2021 – IFC, a member of the World Bank Group, announced an investment of BRL 200 million to support the growth strategy and digital transformation of Ser Educacional, one of the largest private education groups in Brazil and a leader in number of students in postsecondary education in the Northeast and North regions. The financing will help ensure quality online learning experience and reach of new students through upgrades in platforms and new product development that are particularly critical in the context of the pandemic. In addition to strengthening the digital platform, the financing will also reinforce Ser Educacional's working capital, and sustain the integration of new students acquired through mergers and acquisitions into Ser's education model. This is IFC's third investment in Ser Educacional since 2010. In 2015, IFC announced an investment of $40 million (equivalent to BRL 120 million at the time) to support the Group's expansion through the construction of two new campuses, the renovation and modernization of the existing campus, as well as new acquisitions. According to Jânyo Diniz, the president of Grupo Ser Educacional, the company continues to invest. "Our expansion plan continues with valuations of assets and investments in the digital modality. In 2020, we made some acquisitions of edutechs and we are expanding our presence in distance education. IFC's contribution has helped us along this path", he comments. "This investment contributes to the professionalization and digital transformation of the education sector, expanding the student base and increasing resilience to future crises. IFC's role is to support its clients in addressing the challenges of the pandemic, helping them preserve jobs and accelerate Brazil's economic recovery," says Carlos Leiria Pinto, IFC's Country Manager in Brazil. The credit line is part of IFC's $8 billion package of fast-track financing to its clients worldwide to combat the economic impacts of the COVID-19 pandemic. The package was approved by the Board of Directors in March 2020 and so far, $3.866 billion has already been committed. In Brazil, this is the fourth transaction benefited by the program, totaling $260 million (about BRL 1.4 billion). IFC has provided financing to Banco Santander, Banco Daycoval and Jalles Machado, an agribusiness company. The Brazilian postsecondary education sector is made up of more than 2.600 universities, of which 2.300 are private institutions. The private sector is largely characterized by medium-sized institutions (80% have less than 3.000 students), administered by families and with an academic model based on traditional classroom teaching. The COVID-19 pandemic, social distancing measures and closure of campuses has significantly disrupted the sector and has particularly affected the medium-sized education institutions that did not have a strong footprint in digital or distance education. This has created new opportunities for those consolidators that had been going through a digital transformation of their business model for several years such as Ser Educacional. In that sense, this IFC investment will support the continued provision of quality affordable education throughout Brazil for existing and new students. About IFCIFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org. About Grupo Ser Educacional Founded in 2003 and headquartered in Recife, Grupo Ser Educacional (B3 SEER3) is one of the largest private education groups in Brazil and leader in the Northeast and North regions in terms of number of students enrolled. The Company offers undergraduate, graduate, vocational and distance learning courses in 26 states and the Federal District, with a consolidated base of around 218.1 students. The Company operates under the following brands UNINASSAU, UNINASSAU – Centro Universitário Maurício de Nassau, UNINABUCO - Centro Universitário Joaquim Nabuco, Faculdades UNINABUCO, Escolas Técnicas Joaquim Nabuco e Maurício de Nassau, UNIVERITAS/UNG, UNAMA – Universidade da Amazônia e Faculdade da Amazônia and UNIVERITAS – Centro Universitário Universus Veritas, Faculdades UNIVERITAS, UNINORTE – Centro Universitário do Norte, Centro Universitário de Ciências Biomédicas de Cacoal – UNIFACIMED, UNIJUAZEIRO – Centro Universitário de Juazeiro do Norte, Sociedade Educacional de Rondônia – UNESC and Centro Universitário São Francisco de Barreiras - UNIFASB. Stay Connectedwww.ifc.org/lacwww.twitter.com/IFC_LACwww.linkedin.com/company/ifc-américa-latina-y-el-caribewww.facebook.com/IFCwbgwww.instagram.com/ifc_org/www.youtube.com/IFCvideocastswww.twitter.com/IFC_orgwww.ifc.org/SocialMediaIndex
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