The International Finance Corporation (IFC) , a lending arm to the World Bank, has withdrawn millions of support from Bridge International Academies (BIA).
Though the company is gradually switching its name to New Globe in the wake of many issues that have engulfed the parent company Bridge International, major global partners are not being carried away by what is considered a scam.
Liberian government under Ellen Johnson Sirleaf outsourced a huge component of Liberia’s educational initiative to Bridge International in an attempt to revamp the sector but the sector remains messy.
The company has been caught up in a web of bad labor, misappropriation of donor funds, bribery to personal pockets rather than Liberian children.
The World Bank’s International Finance Corporation (IFC) said it was withdrawing funding from Bridge International Academies (BIA) amid pressure from education stakeholders that the low-cost private schools are for profit. In Kenya, Liberia, Rwanda and other places the company operates, students are on the record charged a global scheme of hundred USD per student.
In Liberia their scandalous “Not for Profit” claims have earned them duty free privileges and other amenities when Education Ministry authorities are aware they are for profit.
Such collusion with Education Authorities in Liberia out of bribery, kick backs and jobs to their families and acquaintances have robbed the Liberian government out of millions.
Bridge makes millions out of World Bank and other groups under the pretense of revamping Education in poor countries but on the contrary these entities remain in ruins while the owners celebrate in millions.
They have reneged on attempts by government ministries and agencies in Liberia to settle ex employees or have them reinstated over illegal actions but continue to act law and gospel onto themselves in flagrant disregard of the laws of the country. Why the Liberian government still keeps such company around remains mind blowing.
More details to follow…