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Date: 12 Sep Prashant K. Nanda | Story Source: LiveMint ~ Go to Original Article

The first phase of the fund raised $11 million and the consortium wants to use this as a springboard to double the size of the development impact bond.

New Delhi: A group of global philanthropic foundations, including UBS Optimus Foundation, British Asian Trust, Michael & Susan Dell Foundation, and Tata Trust Tuesday announced a ‘development impact bond’ (DIB) worth $11 million and promised to double the fund size in the coming days to improve the education outcome of 300,000 students in Delhi and Gujarat.

This is the largest education DIB in the world and is an innovative education financing model based on measurable outcome rather than…