Haryana Early Literacy Development Impact Bond (DIB) is first CSR-funded Development Impact Bond . Each child who enters the third grade should be able to read 30 to 35 words in a minute .
New Delhi, India (PNN), November 25, 2018: Despite the COVID-19 pandemic, children in intervention schools could fluently read at 42.4 words per minute (which is within the Global Minimum Proficiency requirements), while children in non-intervention schools could only read at 30.3 words per minute, according to the findings from the Haryana Early Literacy Development Impact Bond (DIB).Each child who enters the third grade should be able to read 30 to 35 words in a minute, he said.This is the first CSR-funded Development Impact Bond (DIB).DIB is an outcome-based investment scheme that includes four actors: an Outcome Buyer, a Risk Guarantor, a Service Provider (Implementation partner), and an Outcome Evaluator.The outcome-focused innovative funding model linked payouts to goals for childrens' learning outcomes.We are proud to be a part of the Haryana Development Bond, the first ever CSR-backed Bond, since it was released in 2007.I hope that other companies are also encouraged to participate in more such bonds.Roopa Satish, Country Head Sustainable Banking and CSR, IndusInd Bank.Sanjay Prakash, MD & CEO, SBI Foundation says, The Prarambhik Bhasha Shikhshan Karyakram initiative in Haryana has a dynamic and innovative approach that enhances the capabilities of existing participants and works in concert with government programs. In addition to the CSR-funded bond, the DIB provided us with confidence in the project's ability to fulfill its promises.The risk factor for the DIB was Central Square Foundation (CSF).According to Shaveta Sharma-Kukreja, CEO and MD, CSF, the government can use the valuable information gained from the DIB to its fullest extent.The DIB Service Provider (Implementation Partner) was Language and Learning Foundation (LLF), which worked in close collaboration with the Government of Haryana. We think this impact bond will be a trendsetter for much larger outcome-based funding in education programs, LLF says.We expect this to be a harbinger of many such initiatives as a result of recent research showing that collaborating with state governments can improve student learning outcomes at scale in a short time.We are extremely excited to be a part of the effort to promote outcome-based funding and impact education in India.The end result report shows promising progress. Despite the fact that only 25 percent of students were able to understand sentences and sentences at the start of the course, about 80 percent were able to comprehend sentences and words at the end of the course.When you consider that it could save 1.6 years of additional schooling, this shows the promise and potential of the scheme.We wish LLF the best in scaling their journey and achieving their FLN mission in India.While the first year of the DIB had a smooth runway, the biggest hurdle came in the second year, with the implementation of COVID-19. Volunteers from local organizations were trained, mentored, and equipped with equipment to teach in small groups based on COVID-19 rules.On a platform powered by Rocket Learning (App), learning was also delivered directly through WhatsApp groups for children with mobile phone connectivity.Following the success of the DIB, the government of Haryana is now expanding the program state-wide to all 22 districts, according to Vanda Swarup, former minister of education.According to Dr. Pramod Kumar, State Program Officer (Directorate Elementary Education) and Nodal Officer for the NIPUN Haryana mission, the DIB program has established a base for the NIPUN Haryana mission to be carried out across all 22 districts in Haryana. Mahi, a grade one student in Sunderpur, Haryana, who had trouble reading, was one of the children to benefit from this DIB.Her teacher identified areas that needed to be improved and worked on them using the assessment method of LLF.Mahi rose to become a fluent reader after three years, reading at over 70 words per minute, much faster than the Global Minimum Proficiency (GMP) requirements for reading.About the Language and Learning Foundation (LLF) The Foundation for Foundational Literacy and Number Analysis (FLN) is a system-focused and impact-driven organization that works to improve children's literacy and numeracy outcomes in India since 2015. HARYANA EARLY LITERACY DIB: A PAY-FOR-SUCCESS Variante Overview 3 years (2019-22)Beneficiaries: 164,000 students in 3,300 government schools in seven Haryana districts.Availability: In close collaboration with the Ministry of Education, the Central Square Foundation (CSF) has provided the following services.