Prince Charles launches education impact bond for India
Britain’s Prince Charles has launched a new 10-million-dollar Development Impact Bond (DIB) to help improve education for over 200,000 children in India.
The DIB, the largest bond of its type in South Asia, is the latest fundraising initiative by the British Asian Trust (BAT), set up by the royal 10 years ago to fight poverty in South Asia.
“We are launching a 10-million-dollar Development Impact Bond that will improve education for more than 200,000 children in India,” Prince Charles said at a Buckingham Palace event yesterday evening to celebrate the 10th anniversary of the British Asian Trust.
“This will be the largest bond of its type in the region and will, I hope, offer a compelling model for a more effective approach to philanthropy at scale,” he said.
The heir to Britain’s throne revealed that along with international philanthropist and champion of global impact investing, Sir Ronald Cohen, he has been a strong advocate of “social finance”.
Photo courtesy of TESS India.