Protium extends financial lending to schools affected by COVID-19 at NISA School Leadership Summit

Protium has offered financial lending to more than 500 schools affected by the pandemic at the ‘School Leadership Summit 2021 – Manthan’ organised by National Independent Schools Alliance (NISA) on November 27, 2021, at Ambala, Haryana.

Protium Sakshara, which lends to MSME, edupreneurs & educational institutions, has also offered to help schools across the country with infrastructure development, working capital, upgrading sports facilities, and more.

This was the first physical event in North India by NISA since the pandemic started. The educational leadership conclave was focused on Government Policy and NISA’s initiatives on helping schools upgrade.

Dhruv Suri, Managing Director, Protium, said the pandemic has affected a large number of students across states, class, caste, gender and region, leading to an increase in learning inequality among children. “Furthermore, schools responsible for the education of these students are going through a state of economic uncertainty. If these schools do not get back on their feet, it will not only have a long-lasting effect on learning but also affect the health and nutrition of children across India. Through our COVID-19 support program, we want to provide such schools with the opportunity and time to rebuild and restructure to ensure inclusive education for all.”

Dr Kulbhushan Sharma, President, NISA, said over the last two years, COVID-19 has taken a heavy toll on every field. “The education system was no different. Lower fee collections and meeting existing financial commitments was a large enough challenge for most educational institutions, but it was a time for us to adapt. For the first time in our history, students sat on beds and dinner tables and teachers had to face the challenge of teaching on a screen instead of at a blackboard. As we slowly recover from this pandemic, schools set their sights higher in order to empower our students,” Sharma said. “There is no single, more positive influence for schoolgoing kids than high-quality infrastructure, but most schools do not have the capital to make these changes. Having access to affordable credit can make all the difference, and that is where financial institutions, like Protium Sakshara, can make a real impact. By lending to schools, you not only help them build something of lasting value, you invest in the promise and potential of the bright, young minds of tomorrow.”

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As per UNICEF statistics, schools for more than 168 million children globally have been completely closed for over a year entire year due to COVID-19 lockdowns. Furthermore, around 214 million children globally – or 1 in 7 – have missed more than three-quarters of their in-person learning. In India, closure of 1.5 million schools due to the pandemic and lockdowns in 2020 has impacted 247 million children enrolled in elementary and secondary schools (UNICEF, 2021). Protium Sakshara has offered to provide lending solutions to schools that are in urgent need of an infrastructure overhaul as they start to reopen and have to adapt the new hybrid learning model.