A November paper in the International Journal of Educational Development by Karen Mundy and Francine Menashy of the University of Toronto reveals that the International Finance Corporation’s (IFC) education funding pays limited attention to poverty and distributional issues. According to the study, the education strategy of the IFC, the Bank’s private sector arm, appears to blend the business and social cases for boosting private sector involvement, particularly in low-income countries, such as Ghana, Kenya and Colombia. However, because the IFC will only invest in financially sustainable projects, the study finds that most projects target middle- or high-income, rather than low-income families.