Mexico City, Mexico, December 7th, 2023. The International Finance Corporation (IFC), a member of the World Bank Group, provided a US$43 million loan to the Universidad Autonoma de Guadalajara (UAG, Autonomous University of Guadalajara) to promote quality education in the country.
Processed under the IFC's COVID CSR platform, the loan will finance some UAG projects whose implementation did not materialize due to the pandemic, such as investments in education, development of digital technology and the reinforcement of hospital infrastructure.
The entire educational system of the university will be benefited through the learning ecosystems offered by the institution: Humanities, Business, Health, Sustainable Environment, Communication and Entertainment, Agri-Food and Industry 4.0. An educated, healthy and adaptive population is absolutely essential for countries to eradicate poverty and compete effectively in the global economy.
Antonio Leaño Reyes, Rector of the UAG, stated: "This financing will allow us to stay at the forefront and continue training world-class innovative leaders with human quality; It will strengthen us to continue improving our facilities more quickly with the equipment of classrooms, laboratories and learning spaces, providing them with the resources and technology necessary to provide our students with spaces of excellence. We are convinced that the training of high-level professionals is part of our social responsibility as an educational institution."
An example of the impact of this loan is in the health area of the UAG, in which more than 5,000 students study Medicine. Through this financing, the growth of this section will be facilitated for the training of more health professionals contributing to the benefit of the population. According to data from the World Bank, in Mexico there are only 2.4 doctors per 1,000 inhabitants, well below the world average of 3.5 doctors.
Juan Gonzalo Flores, Country Manager of IFC in Mexico, stated: "With this loan, IFC contributes to the UAG being consolidated as a world-class university and promoting high quality education in the country, especially in the health sector. The training of professional doctors and nurses is a higher priority than ever in Mexico."
About UAG
The Universidad Autonoma de Guadalajara, founded on March 3, 1935, is the first private university in Mexico and is recognized internationally for its high academic quality. With a population of 16,000 students and more than one million square meters of academic, sports and service facilities, it is the largest private educational system in the State of Jalisco. More than 140,000 professionals have graduated from its classrooms, including more than 18,000 North American doctors.
About IFC
IFC — 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 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org and www.ifc.org/energy.
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