According to IFC website, IFC proposes an equity investment in Zhangmen Education. Global Online Education Inc., or Zhangmen Education, is an online education technology company providing K12 after-school tutoring in China. By leveraging the power of internet and its platform that connects high quality teachers with students, Zhangmen increases access to quality educational resources especially for students in less developed regions in China. The Project will support ZE’s working capital for business expansion mainly through increasing office spaces, more staffing, system upgrade and product improvements.
ZE, founded in 2015 in Shanghai China as a private education company, is one of the leading tutoring providers in China, offering after-school tutoring classes to students in the K12 system of China.
SHANGHAI ZHANGMEN EDUCATION TECHNOLOGY CO., LTD.
No contact information provided at the time of disclosure.
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/