Our main field of expertise is the creation and simulation of potential new higher education financing models on the national level. The proposed new financing models are tailor-made and are aligned with the country development policies, strategic development goals and specificities of the national higher education system.
The Edufinance pillar approach is balancing between 3E (Efficiency, Effectiveness and Equity) and reallocation of unproductive expenditures towards the defined education policy goals resulting in enhanced quality and equity of education system.
Edufinance has a profound experience in the expenditure optimization process defined at IRM (Internal Reallocation Mechanism) at the level of a higher education institution. Our experts analyse institutional structure, cost drivers and expenditure streams and calculate the potential savings on the institutional level (efficiency improvement) and elaborate options for reallocation of savings into quality enhancement (effectiveness). Hence, the IRM approach enables optimal use of available funds and resources, reallocation of inefficiently used funds for productive purposes and consequently enable institutional quality enhancement without creating additional expenditures.
Finally, we have also been engaged in the development of new financing models or adjustments of existing financing models in primary and general secondary education and TVET.