L’opzione “buydown” per l’istruzione

WASHINGTON, DC – L’anno scorso è stato un anno importante per i paesi in via di sviluppo, anche solo per il fatto che hanno ricordato al mondo il vero valore dell’istruzione. Malala Yousafzai, la giovane ragazza pachistana che si è esposta in difesa del diritto dei bambini di andare a scuola, anche dopo essere sopravvissuta ad un tentativo di omicidio da parte dei talebani, ha infatti dimostrato in maniera struggente che non istruire i bambini nei paesi in via di sviluppo costa molto di più che farlo.

Con l’istruzione al centro dell’attenzione, stanno prendendo slancio dei nuovi trend, alcuni dei quali legati alla “finanza innovativa”, un concetto molto amato dai policy maker e dai fautori dello sviluppo nei periodi di difficoltà economica. In particolar modo, l’insorgenza dei cosiddetti prestiti buydown potrebbe incoraggiare il finanziamento dell’istruzione da parte dei paesi donatori tendenzialmente riluttanti.

Un prestito buydown è una transazione in cui una parte terza ripaga parte del prestito allentando i termini o riducendo l’ammontare del capitale da rimborsare, e liberando in tal modo il soggetto che contrae il prestito da alcuni o da tutti gli obblighi futuri di ripagamento. Dato che il buydown viene generato dal raggiungimento di un target predefinito, questo tipo transazioni promuove dei finanziamenti basati sui risultati, incoraggiando delle riforme quantificabili che altrimenti non verrebbero realizzate.

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