Cogna

pending

Cogna Educacao S.A. (“Cogna”, the “Borrower”) is one of Brazil’s leading educational group (https://www.cogna.com.br/), which directly provides higher educational services to 1 million students and reaches an additional 1.4 million students through partner schools and educational institutions.The proposed IFC investment consists of an A loan for IFC’s own account in an amount of up to US$100 million equivalent in Brazilian Reais (BRL) and aims to support financing investments in technology in the Borrower’s higher education segment (the “Project”). Currently Cogna activities in the higher education segment are carried out through its subsidiary Anhanguera Educacional Participações S.A. (“Kroton” or the “Company”). Kroton is undergoing relevant investments in technology during the next 2-3 years, and with IFC loan, Cogna will be looking to support Kroton to integrate all its systems into one portal to have a better product offering for distance learning and hybrid courses and make it easier for the student to use the education platform.Kroton has almost one million students within its 112 campuses and 3,000 distance learning hubs across 20 states and 96 cities in Brazil. More than 60% of the Company’s students are enrolled in hybrid and online courses, and the remaining 40% corresponds to on-site students