IIC joins efforts with Mind Lab to expand access to innovative educational methodologies in Brazil
The Inter-American Investment Corporation (IIC), acting on behalf of the Inter-American Development Bank (IDB) Group, has signed a BRL 18 million loan with Mind Lab Brazil to increase access to innovative educational methodologies in public and private schools in Brazil. With the support of the IIC, the company expects to reach more than 160,000 additional students over the next six years, most of them living at the base of the economic pyramid. In 2013, 88% of students in Brazil attended public schools, of which 78% came from low income families. The traditional content approach used in most of these schools is not adequate to prepare these students with the critical thinking skills needed to lift them out of vulnerability. Mind Lab’s concept is established upon the notion that thinking games, facilitated by the teacher in a mediator role, serve as a high-powered social emotional skill development tool. According to the OECD these socio-emotional skills are critical learning skills to succeed in the 21st Century. Every year, more than 400,000 students in 1,000 private and public schools in Brazil take advantage of this innovative methodology. The IIC and Mind Lab are also partnering with the Instituto Ayrton Senna, a Brazilian NGO dedicated to education, to conduct an independent evaluation of the impact of this teaching methodology. This will help to identify lessons learned on how to improve the socio-emotional skills of students. About the Inter-American Investment Corporation (IIC) The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. The IIC finances sustainable enterprises and projects to achieve financial results that maximize social and environmental development for the region. With a current portfolio of US$7 billion under management and 330 clients in 20 countries, the IIC works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients. About Mind Lab Mind Lab is a Brazilian-Israeli education company whose mission is to help students of all ages develop the cognitive and soft skills needed to succeed in the 21st Century. The company was founded in 1994 and has already impacted millions of students and teachers in over 25 countries. Mind Lab has proven results worldwide, with 14 research studies conducted by internationally renowned institutions as Yale University (USA), Northumbria University (United Kingdom), INADE Institute (Brazil), IPRASE Institute (Italy) and Istanbul University (Turkey). Mind Lab was mentioned on Wired as one of the 10 most innovative education companies in the world and appointed as one of the 50 most important education companies in Latin America. In Brazil, Mind Lab has partnered with more than 1,000 public and private schools, covering more than 400,000 students every year.