Outcomes Fund for Education Results (OFFER)

Bringing equitable access and opportunities to learners in Colombia.

Social Finance worked with Global Affairs Canada (GAC) and its partners – the Colombian Ministry of Education and a group of four philanthropic foundations – to design an Outcomes Fund for Education Results in Colombia. This outcomes fund seeks to ensure that all learners in Colombia have equitable access to education and equitable opportunities for retention and achievement.

To fulfil its vision, the OFFER will facilitate the design and implementation of payment-by-results projects in education and develop several long-term systems change strategies in parallel.

Why we are doing this: 

Colombia has a highly diverse and geographically dispersed population of c. 50 million. Disadvantaged students, especially those in rural communities and women and girls, face significant challenges in accessing education and considerable barriers to retention and educational achievement. This outcomes fund seeks to align the incentives of relevant education stakeholders to improve educational outcomes, leveraging funding and skills from different sectors and nurturing a culture of evidence-based decision-making. 

What we are doing: 

We designed an Outcomes Fund with two strategic priorities. Firstly, the OFFER will fund payment-by-results projects to tackle entrenched issues for the most vulnerable learners in the country, starting with students located in the country's rural and remote areas. The OFFER will have the flexibility to fund multiple payment-by-results initiatives seeking different goals, as long as they are aligned with its vision. Additionally, the OFFER will gather, distill and share out the learnings from these projects in order to strengthen the ecosystem, promote the use of data and evidence to deliver sustainable educational outcomes and, ultimately, inform better educational policy.

Our design work included defining the OFFER’s operational model, governance structure, funding flows, outcome measures, and evaluation strategy. 

Partners

Global Affairs Canada
MaRS Centre for Impact Investing
Social Finance US

 

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