The World Bank Group issued a statement today regarding the IFC's investment in Bridge International Academies. The statement, released on behalf of Bank Group management and the IFC’s Board of Executive Directors, addressed concerns raised by a CAO investigation report.
“Today the IFC Board held a meeting on the CAO investigation report into concerns about school safety and labor conditions in schools run by IFC’s former client Bridge International Academies," the statement read. "We had a constructive engagement on IFC’s Management Response and Management Action Plan and agreed that IFC will take more time to explore collaboration with relevant stakeholders before the Board formally considers the Management Response and Management Action Plan.”