Photo: Bicentenario Uruguay/Flickr
How the region can improve education through public-private initiatives
by David Ramirez
Public-private alliances continue to gain influence in many socio-economic activities around the globe, including the educational system in Latin America and the Caribbean. Although the region’s spending in education as a share of GDP has been growing and now approaches OECD averages, quality still remains subpar.
Latin Trade spoke to Antonio Caparrós, the manager of INICIA Educación, a private social investment fund focused on educational initiatives in the Dominican Republic, to learn about their experience in the field.
What is behind the region’s educational gap?
There are two fundamental issues. First, there is a big share of young population with a low educational base and poor levels of specialization. This –and that brings me to the second issue– is the result of an educational system that is not working as it should. Therefore, it’s necessary to overhaul it, through initiatives such as INICIA, which uses long-term capital to find viable solutions to the problem.
How can the region improve the efficiency of public spending in education?
Not all money spent is a good investment. It is necessary to involve private capital in the educational system. INICIA is doing so by using its funds in different projects that have the commitment from the Dominican government to become public policy if they become successful. Our money is more flexible and can …
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