The FINANCIAL -- IFC, a member of the World Bank Group, is making an  equity investment in Harmon Hall Holding, S.A. de C.V., to help Mexico’s largest English-language school chain reach more students, including those living in smaller cities in frontier regions.  

"With IFC’s support, Harmon Hall will expand services, strengthen its financial and corporate governance structure, and reach more students. The company’s other equity partners include Nexxus Private Equity Fund, DEG-Deutsche Investitions- und Entwicklungsgesellschaft MbH, and HSBC Capital (USA) Inc., a private equity division of HSBC Group," IFC said.
 
“We are committed to providing affordable high-quality education and to serving areas in Mexico that have no access to services,” said Alejandro Diazayas, Member of Harmon Hall’s Executive Committee. “By helping us expand into midsize cities and frontier regions, IFC’s investment will support the long-term sustainability of our business.”

The company operates 100 facilities in 60 cities in Mexico where different levels of English are taught each year to more than 100,000 students who consequently are able to obtain internationally recognized certification.

“The project addresses a lack of quality English-language education in Mexico in locations where Harmon Hall is present or is planning to enter,” said Guy Ellena, IFC Director for Health and Education.  “We also look forward to sharing IFC’s global industry expertise and knowledge of education best practice.”
 
“Education is a top priority for IFC in Mexico," said Roberto Albisetti, IFC Senior Manager for Mexico. "We are very pleased to partner with Harmon Hall to foster the development of Mexico's human capital by helping students achieve proficiency in English, thereby enabling them to find better job opportunities.”

IFC’s strategy in Mexico focuses on enhancing the private sector’s competitiveness, deepening the financial sector, supporting infrastructure, and investing in areas newly opened to private sector participation. IFC also promotes environmental sustainability, social development, and corporate governance.  Since it became an IFC member in 1956, IFC has provided Mexico with more than $6 billion in private sector support.

Related Stories

• Seattle’s Best Coffee Survey Reveals Sharing Coffee Leads to a Better Relationship
• Jordan Brand Introduces All-Star Inspired Signature Shoes
• FedEx CVP of Tax Michael Fryt Advocates for Tax Reform on Capitol Hill