IDB Invest, a member of the Inter-American Development Bank (IDB) Group, provides a line of credit in local currency for up to 540 million Mexican pesos to Grupo Edilar SA, dedicated to providing products and services to teachers affiliated with the National Public Education System from Mexico and employees of state agencies. The repayment period is 6.5 years.
The funds granted by the facility will allow Edilar to increase its activity, aimed at improving the quality of education in Mexico. The products and services offered include educational materials, technology platforms to support teachers in the design of online courses for their students, certificates and master's degrees with official recognition and loans for educational purposes.
The financial returns from the loans and the sale of products and services are paid to Edilar, mainly through the payroll discount. Teachers authorize their employer to deduct payments from their payroll.
This operation is expected to potentially contribute to six of the United Nations Sustainable Development Goals (SDGs): End of poverty (SDG 1), Quality education (SDG 4), Gender equality (SDG 5), Decent work and economic growth (SDG 8), Reduction of inequalities (SDG 10), Partnerships to achieve the objectives (SDG 17).
About IDB Invest
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a portfolio of assets of $12.4 billion under management and 342 clients in 24 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the needs of its clients.
Founded in 1992, Edilar supports public education teachers in Mexico through the commercialization of educational programs and courses, technology equipment and educational materials. The company has six product lines among which Editorial and Technology, Educational Services and Teacher Network stand out. Currently, Edilar is present in 27 of the 32 federative entities in Mexico serving nearly 70,000 public education teachers.