USIL: Broadening Access to Lower Income University Students in Peru
For many public universities across the region, demand far exceeds supply. Increasingly, private universities are helping to reduce unmet demand, complementing public investments without increasing fiscal burdens.
Through a $23.5 million loan package, the IDB is supporting the Universidad San Ignacio de Loyola (USIL) to improve access to quality education and broaden the socio-economic profile of its students by expanding its campus, supporting its international accreditation programs and increasing its financial aid offerings.
IDB’s financing includes co-financing from the Canadian Climate Fund (C2F), a $250 million concessional fund managed by the IDB, to incentivize the use of green technology aimed at reducing water and energy consumption and make USIL the first LEED certified university in Peru..
USIL’s expansion project comes as years of sustained economic growth in Peru have fueled growth of an emerging middle class eager to access high-quality higher education.
The project is expected to:
- Double USIL’s student capacity from 12,000 to 25,000 over the next ten years,
- Broaden access to affordable education programs for lower income students by increasing USIL’s participation in the government program “Beca 18”
- Expand and upgrade USIL’s infrastructure using green technology and become Peru’s first LEED certified university
- Set up a student guarantee fund with gender and diversity criteria to broaden the socio-economic profile of its student population and reduce drop-out rates.