Summary of Proposed Investment
Project Number
10430
Company Name
ESCOL@ 24 HORAS S/A
Date SPI Disclosed
Jul 13, 2000
Country
Brazil
Industry
Health, Education and Life Sciences
Projected Board Date
Aug 24, 2000
Status
Completed
Sector
Elementary and Secondary Schools
Date Revised SPI Disclosed
Jul 25, 2000
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
C - No Impact
Previous Events
Approved : Sep 15, 2000
Signed : Sep 24, 2000
Invested : Oct 4, 2000
Project Description
The project consists of a potential IFC investment of US$3.25 million equivalent in the capitalization of Escol@24Horas, a mini education portal in Brazil providing support tutoring services by email, on a 24 hours per day basis to fee paying students of client education institutions. Escol@’s objective is to extend the learning capacity and resources of schools to the students’ home using the internet.
This investment has the potential to provide opportunities to Brazilian state and federal governments to work along side the World Bank and achieve greater economic distribution of education subsidies in conjunction with Information Communication & Technology initiatives. Through its involvement in Escol@, IFC would play a pioneering role by investing and assisting in the formation of a start-up web-based education company in Brazil focused on using the Internet to improve both the access and content of education material. For new companies like Escol@, IFC’s presence in the project lends credibility, especially in its dealings with schools, state and national education boards.
This investment has the potential to provide opportunities to Brazilian state and federal governments to work along side the World Bank and achieve greater economic distribution of education subsidies in conjunction with Information Communication & Technology initiatives. Through its involvement in Escol@, IFC would play a pioneering role by investing and assisting in the formation of a start-up web-based education company in Brazil focused on using the Internet to improve both the access and content of education material. For new companies like Escol@, IFC’s presence in the project lends credibility, especially in its dealings with schools, state and national education boards.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Severino Felix da Silva
President
Escol@24Horas
Rua Dom Gerardo 64 - 12 andar
Centro
RJ CEP 20090-030
Brazil
President
Escol@24Horas
Rua Dom Gerardo 64 - 12 andar
Centro
RJ CEP 20090-030
Brazil