Thu, 15 Sep 2011 02:42:41 GMT

Global Schools Foundation to set schools in India, Asia

From Gurdip Singh
Singapore, Sept 15 (PTI) A Singapore-based foundation working in the field of education has announced a USD 150 million plan to set up 50 new international schools in India and other Asian nations.
The Global Schools Foundation (GSF) will set up schools at four Indian cities of Bangalore, Noida, Ahmedabad and Indore, its Chairman and Co-Founder Atul Temurnikar said, adding the project is also likely to get a funding of around 30-40 million USD from World Bank.

"The International Finance Corporation (A World Bank body) will support our school expansion programme in developing economies, especially India, Indonesia, Malaysia, Vietnam and China," Temurnikar said.

He added that rest of the funding would come from banks and private equity investments.

The foundation has collaborated with leading real estate and infrastructure developers in Asia to develop necessary infrastructure for these schools.
GSF is the only institution in Singapore to have 21 schools in eight countries including Japan and the US.

"The foundation has so far invested 50 million USD for the expansion of education through these schools," Temurnikar said.

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