Rural Education Project (ADB-47922-014)

Countries
  • India
Where the impacts of the investment may be experienced.
Specific Location
Rural Karnataka and Tamil Nadu
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Apr 11, 2014
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Hippocampus Learning Centres Limited
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 2.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Jun 25, 2020

Disclosed by Bank Sep 25, 2014


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Project Description

According to ADB website, the proposed project will increase access to affordable kindergarten and after-school programs for children aged 3-11 years in rural Karnataka and Tamil Nadu states of India. The proposed project is an invesment of 2 million USD equity in Hippocampus Learning Centres Limited (HLC).

Hippocampus Learning Limited is a venture capital backed company which operates pre-school and after-school coaching programs for children aged 3-12 years in rural India. HLC has pioneered a new model for improving learning outcomes by developing a low-cost system to deliver a supplementary education curriculum that focuses on a targeted set of learning outcomes

Investment Description
  • Asian Development Bank (ADB)
Private Actors

Hippocampus Learning Centres (HLC) creates integrated and comprehensive preschool and primary grade education programs in India.

Contact Information

No contact information available at the time of disclosure. 

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main