LONDON: An innovative financial tool aimed at increasing the number of girls in school in India and improving education has exceeded its targets, triggering a large payout, said the investor UBS Optimus Foundation.
The world’s first-ever Development Impact Bond (DIB) in education saw the foundation, which was established in 1999 by the Swiss investment bank UBS, provide US$270,000 (around RM1mil) to fund an initiative by the Indian charity Educate Girls.
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