A opção buy-down para a educação

WASHINGTON, DC – O ano passado foi importante para os países em desenvolvimento, quanto mais não seja devido ao facto de o mundo ter recordado o verdadeiro valor que a educação tem nesses países. Na verdade, Malala Yousafzai, a jovem paquistanesa que defendeu o direito que as crianças têm de frequentar a escola - mesmo depois de ter sobrevivido a uma tentativa de homicídio por parte dos talibãs - serviu como um aviso pungente de que não instruir uma criança no mundo em desenvolvimento acarreta custos significativamente mais elevados do que fazê-lo.

Com a questão da educação sob o foco das atenções, novas tendências estão a ganhar ímpeto, fundindo-se grande parte das mesmas com um sistema de "financiamento inovador" - um conceito bastante apreciado pelos responsáveis envolvidos na formulação e aplicação das políticas de desenvolvimento em épocas económicas difíceis. Em particular, o surgimento dos denominados empréstimos buy-down poderia incentivar o financiamento da educação por parte dos países doadores que se mostram relutantes.

Um empréstimo buy-down é uma transacção mediante a qual um terceiro amortiza parte de um empréstimo, atenuando os seus termos ou reduzindo o capital em dívida, libertando, deste modo, o país mutuário da totalidade ou parte das suas obrigações futuras de reembolso. Tendo em conta que os empréstimos desta natureza são activados pelo cumprimento de uma meta pré-definida, este género de transacções promove o financiamento baseado em resultados, dando origem a reformas quantificáveis que, de outro modo, não poderiam seriam concretizadas.

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