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Academic facilitates $100 million investment in private schools for the poor
Detail: James Tooley, a professor of education at New Castle University, based on his research in China, Ghana, India, Kenya and in many other countries, has shown that fee-paying (often just a couple of dollars a month) private schools in the developing world can provide a much better education than inefficient state-run schools, which were high on teacher absenteeism and low on teacher commitment.

Prof. Tooley's essay, Educating Amaretch, summarized his work on private education for the poor in developing countries and made a strong case for investment to help improve the quality and availability of private schools that were outperforming government schools across the developing world. His essay subsequently published in an abbreviated form in the Financial Times (September 17, 2006), won the first prize in the inaugural Private Sector Development competition run by the Financial Times and the International Finance Corporation in 2006.

The essay caught the eye of Richard Chandler, the founder and chairman of Orient Global, a Singapore based investment firm, who then launched a USD 100 million Education Fund on February 14, 2007 and invited Tooley to act as President of the Education Fund and help invest $100 million in low-cost private schools for the developing world's poorest children.

To read the FT version of the essay, see
Educating Amaretch: Private schools for the poor and the new frontier for investors by James Tooley, Published: September 17 2006 16:15
Source: Based on Academic helps private schools drive for the poor by Jon Boone, Financial Times, February 15 2007; and Educating the poorest Financial Times, February 17, 2007
Date: November 20 2007