Kenya, April 7 -- The IFC Board of Executive Directors approved IFC's response to an investigation of IFC's investment in Bridge International Academies conducted by the Compliance Advisor Ombudsman (CAO), IFC's independent accountability mechanism.In 2013 and 2016, IFC invested a total of $13.5 million in equity to support expansion of Bridge, a company that ran a chain of for-profit private schools in Kenya and provided technical assistance to government schools in other African countries. The project was designed to support access to affordable, quality education for children from low-income backgrounds. IFC exited the equity investment in NewGlobe Schools, the parent company of Bridge, in March 2022.CAO's investigation responds to a com...