
The Soros Economic Development Fund concentrates on market-driven, scale-oriented solutions that expand access to essential services and democratic information, with a clear tilt toward international impact and technology-enabled interventions. Recent grants show priorities in expanding renewable energy and climate finance in low-income countries, strengthening independent and digital media ecosystems, and increasing access to reproductive and diagnostic health services via telehealth and affordable diagnostics. They favor organizations building infrastructure, platforms, or financing mechanisms that can be scaled across regions and populations.
A $3,000,000 grant to Acumen Fund for clean, renewable energy access in 16 least developed African countries is the clearest window into how Soros Economic Development Fund operates: it backs large, catalytic bets that are meant to scale across regions and systems. That same pattern appears in its support for market infrastructure around independent media, reproductive health access, and climate finance, where the goal is not a one-off service but a platform, financing mechanism, or operating model that can be reused. The fund’s recent portfolio mixes grants with program-related investments and other catalytic capital. It has supported Media Development Investment Fund to sustain independent media companies and information ecosystems, and it has backed health-access intermediaries such as Abortion Coalition of Telemedicine and The Reimagination Lab to expand telehealth abortion access and consumer-facing reproductive health tools. In climate and development, it has funded organizations working on inclusive energy transitions, impact investment frameworks, and financing platforms for climate solutions. Its work also reaches into human rights, diagnostic access, education technology, and Roma entrepreneurship, showing a preference for structural interventions and financial vehicles rather than direct service delivery alone.
In clean energy and climate finance, Soros Economic Development Fund gave $250,000 to Encourage Capital LLC to develop innovative financing platforms to combat climate change, and $150,000 to the Global Impact Investing Network to support climate solutions investing activities. In independent media, it gave $250,000 to Indiegraf Media Inc for an innovative SaaS platform that supports independent media outlets in North America, and $250,000 to Liker Land Inc for infrastructure for a more robust ecosystem for independent media. In reproductive health, the fund awarded $195,000 to National Women's Health Network to examine a malpractice insurance product for telehealth providers, while Ipas received $150,000 to improve access to emergency contraception in the United States. Its education-related grantmaking includes $150,000 to the International Finance Facility for Education for an innovative financing platform, alongside $55,000 to Aswegrow Limited for professional development of disadvantaged teachers.
$6.7M
$174.9M
-$17.8M
$17.2M
Most grants fall between $100K and $400K, with a median of $250K.
25th Percentile
$100K
Median
$250K
75th Percentile
$400K
About 38% of grants go to recipients in DE.
Top 10 recipient countries by grant volume for Soros Economic Development Fund.
| Rank | Country | Grants | Total | Share |
|---|---|---|---|---|
| 1 | United StatesDomestic | 50 | $721.5M | 42.4% |
| 2 | Mauritius | 19 | $114M |
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Moderately concentrated: a small number of mid-to-large grants (several in the $250k–$3M range) focused on scalable, infrastructure or platform-oriented organizations; a mix of repeat and single large strategic bets rather than many small community grants.
Notable grantees: Acumen Fund, Media Development Investment Fund, Abortion Coalition of Telemedicine, Global Access Health, Encourage Capital LLC
Typical grant size sits at $100,000 at the 25th percentile, $250,000 at the median, and $400,000 at the 75th percentile. Recent awards range from small project support to multi-million-dollar commitments, with several six- and seven-figure grants and larger catalytic investments handled through guarantees, equity, debt, and related structures. The same organizations can appear more than once: National Women's Health Network received support in both 2024 and 2025, and Media Development Investment Fund appears in multiple years as well. SEDF is classified as a regular funder, makes program-related investments, and funds individuals.
Grant recipients are concentrated in the United States, which accounts for 50 grants, or 42.4% of the listed recipient countries. Among named cities, New York appears repeatedly through recipients such as Acumen Fund, Media Development Investment Fund, and The Reimagination Lab, while Washington, DC shows up through Free Democracy Foundation, National Women's Health Network, and New Venture Fund. Outside the U.S., the portfolio includes London, Vancouver, Chapel Hill, Culver City, and international recipients in Colombia, Switzerland, Uganda, Luxembourg, Belgium, and the UK. The recipient-country mix also includes 19 grants to MP and 10 to the UK.
It supports organizations building financing platforms, infrastructure, and catalytic vehicles in areas like clean energy, independent media, reproductive health access, diagnostics, climate finance, justice, and education. Recent examples include market infrastructure for media, malpractice insurance for telehealth providers, and innovative financing for climate and education needs.
The distribution centers on $100,000 at the 25th percentile, a $250,000 median, and $400,000 at the 75th percentile. Recent grants include both smaller project awards and much larger commitments, including a $3,000,000 grant for renewable energy access.
Yes. It is noted as making program-related investments, and its active programs include catalytic capital structured as debt, equity, and guarantees for health, media, justice, and gender-related investments.
Independent media, climate and energy, reproductive health, health diagnostics, and finance-related infrastructure appear repeatedly. Specific recent awards include support for independent media platforms, renewable energy access in least developed African countries, telehealth abortion access, emergency contraception, and climate financing tools.
Yes. Media Development Investment Fund appears in both 2023 and 2024, and National Women's Health Network appears in both 2024 and 2025. That pattern suggests some ongoing support rather than only one-time awards.
2025
Source: IRS Form 990-PF, fiscal year 2025.
16.1% |
| 3 | United Kingdom | 10 | $36.4M | 8.5% |
| 4 | Luxembourg | 6 | $23M | 5.1% |
| 5 | Colombia | 5 | $2.9M | 4.2% |
| 6 | Belgium | 3 | $12M | 2.5% |
| 7 | Portugal | 3 | $4.5M | 2.5% |
| 8 | Switzerland | 3 | $450K | 2.5% |
| 9 | India | 2 | $54.1M | 1.7% |
| 10 | JE(JE) | 2 | $12.8M | 1.7% |
Recipient country reflects the grantee's headquarters per IRS 990-PF and Schedule F filings, not the program's implementation country.
Most recent grants reported to the IRS.
| Recipient | Location | Amount | Year | Purpose |
|---|---|---|---|---|
| ACUMEN FUND | NEW YORK, NY | $3,000,000 | 2025 | TO SUPPORT CLEAN, RENEWABLE ENERGY ACCESS TO COMMUNITIES IN 16 LEAST DEVELOPED AFRICAN COUNTRIES. |
| ABORTION COALITION OF TELEMEDICINE | NEW YORK, NY | $1,000,000 | 2025 | TO PROVIDE MALPRACTICE INSURANCE FOR SHIELD PROVIDERS ENABLING TELEHEALTH ABORTION ACCESS. |
| SCROLL MEDIA INC | ACTION, MA | $270,000 | 2025 | THE PRIMARY GOALS ARE TO DIVERSIFY AND DEEPEN THREE EXISTING REVENUE STREAMS: MEMBERSHIP; GROUND EVENTS AND ADVERTISING. |
| THE REIMAGINATION LAB | BROOKLYN, NY | $250,000 | 2025 | GENERAL SUPPORT (2024-26) FOR THE REIMAGINATION LAB TO DEVELOP CONSUMER-FACING DIGITAL PRODUCTS TO EXPAND ACCESS TO REPRODUCTIVE HEALTHCARE. |
| FREE DEMOCRACY FOUNDATION | WASHINGTON, DC | $250,000 | 2025 | PROJECT SUPPORT TO HELP LAY THE GROUNDWORK FOR COMMERCIAL ACTORS TO SCALE THE MOBILE VOTING AND BROADER VOTER ACCESS LANDSCAPE, LEVERAGING TECHNOLOGY TO ENHANCE CIVIC ENGAGEMENT AND PARTICIPATION. |
| REPRODUCTIVE HEALTH INVESTORS ALLIANCE INC | SAN FRANCISCO, CA | $250,000 | 2025 | GENERAL SUPPORT FOR RHIA VENTURES AND TARGETED SUPPORT FOR RHIA'S CORPORATE ENGAGEMENT STRATEGY. |
| INDIEGRAF MEDIA INC | VANCOUVER | $250,000 | 2025 | TO SUPPORT AN INNOVATIVE SAAS PLATFORM THAT SUPPORTS INDEPENDENT MEDIA OUTLETS IN NORTH AMERICA. |
| THE GLOBAL STEERING GROUP FOR IMPACT INVESTMENT | LONDON | $200,000 | 2025 | TO PROVIDE GENERAL SUPPORT |
| NATIONAL WOMEN'S HEALTH NETWORK | WASHINGTON, DC | $195,000 | 2025 | TO EXAMINE THE FEASIBILITY OF CREATING A NEW KIND OF MEDICAL MALPRACTICE INSURANCE PRODUCT/POOL/COMPANY MODELED ON PLANNED PARENTHOODS OWN INSURANCE COMPANY, TO COVER THE INDEPENDENT PROVIDERS OF TELEHEALTH-RELATED ABORTION SERVICES TO THOSE IN STATES WHERE ABORTION IS NOT LEGAL |
| THE INTERNATIONAL CENTER FOR TROPICAL AGRICULTURE | VALLE DEL CAUCA | $150,000 | 2025 | TO SUPPLEMENT THE AMAZON BIODIVERSITY FUNDS (ABF) IMPACT DATA. |
| IPAS | CHAPEL HILL, NC | $150,000 | 2025 | ORGANIZATIONAL SUPPORT TO ASEC TO IMPROVE ACCESS TO EMERGENCY CONTRACEPTION IN THE UNITED STATES. |
| GLOBAL IMPACT INVESTING NETWORK | NEW YORK, NY | $150,000 | 2025 | TO SUPPORT THREE MAIN ACTIVITIES: DEVELOP FRAMEWORK FOR SOLUTIONS; ALIGN INVESTORS THROUGH THE CLIMATE SOLUTIONS INVESTING FORUM; INITIATE GLOBAL "CAMPAIGN" TO FURTHER ACTION IN CLIMATE SOLUTIONS INVESTING. |
| MAYDAY HEALTH | NEW YORK, NY | $150,000 | 2025 | TO SUPPORT AND ADVANCE REPRODUCTIVE RIGHTS IN THE U.S. |
| GENDER IDEAL DBA REPRODUCTIVE & MATERNAL HEALTH | NEW YORK, NY | $100,000 | 2025 | TO SUPPORT A PROJECT TO RATE COMPANIES PERFORMANCE, BENEFITS, AND EQUITY ON REPRODUCTIVE CARE. |
| SYMPLIFICA | CUNDINAMARCA | $100,000 | 2025 | TO FURTHER THE CHARITABLE PURPOSE OF PROVIDING RELIEF TO THE POOR AND DISTRESSED. |
| CONFLUENCE PHILANTHROPY | NEW YORK, NY | $25,000 | 2025 | TO IMPROVE CLIMATE JUSTICE BY RAISING AWARENESS OF THE IMPORTANCE OF INDIGENOUS PEOPLES AND LOCAL COMMUNITIES IN CLIMATE FINANCE AND NATURE BASED SOLUTIONS INVESTMENT ACTIVITIES, HELP BUILD RELATIONSHIPS BETWEEN INDIGENOUS PEOPLES LEADERS AND RELEVANT INVESTMENT ADVISORS, AND TO HELP THE GUARDIANS IMPACT ALLIANCE BUILD MOMENTUM TO RAISE SUPPORT FOR ITS FUTURE CONVENINGS |
| HONEYBEE HEALTH INC | CULVER CITY, CA | $650,000 | 2024 | TO INCREASE ACCESS TO HEALTH PRODUCTS AND SERVICES TO WOMEN WITH LIMITED ACCESS |
| OLDUVAI LTD | — | $366,895 | 2024 | SUPPORT INDEPENDENT MEDIA COMPANIES THAT PROVIDE TIMELY, ACCURATE AND RELEVANT NEWS, INFORMATION AND DEBATE THAT PEOPLE NEED TO BUILD MORE OPEN, EQUITABLE AND FREE THRIVING SOCIETIES. |
| MEDIA DEVELOPMENT INVESTMENT FUND | NEW YORK, NY | $340,000 | 2024 | TO SUPPORT INDEPENDENT MEDIA COMPANIES THAT PROVIDE TIMELY, ACCURATE, AND RELEVANT NEWS, INFORMATION AND DEBATE THAT PEOPLE NEED TO BUILD MORE OPEN, EQUITABLE AND FREE THRIVING SOCIETIES |
| ENCOURAGE CAPITAL LLC | NEW YORK, NY | $250,000 | 2024 | TO DEVELOP INNOVATIVE FINANCING PLATFORMS TO COMBAT CLIMATE CHANGE. |
| INTERNATIONAL FINANCE FACILITY FOR EDUCATION | — | $150,000 | 2024 | TO SUPPORT AN INNOVATIVE FINANCING PLATFORM SEEKING TO CATALYZE RESOURCES INTO GLOBAL EDUCATION NEEDS. |
| NEW VENTURE FUND | WASHINGTON, DC | $100,000 | 2024 | PROVIDE GENERAL SUPPORT TO THE U.S. IMPACT INVESTING ALLIANCE FOR A PERIOD OF 12-MONTHS.THE ALLIANCE IS A LEADING ADVOCATE FOR 1) IMPROVING THE IMPACT INVESTMENT POLICY ENVIRONMENT IN THE U.S., 2) CATALYZING THE FLOW OF INSTITUTIONAL CAPITAL FOR IMPACT AND 3) BUILDING THE IMPACT INVESTING FIELD GLOBALLY. |
| NATIONAL WOMEN'S HEALTH NETWORK | WASHINGTON, DC | $45,000 | 2024 | TO EXAMINE THE FEASIBILITY OF CREATING A NEW KIND OF MEDICAL MALPRACTICE INSURANCE PRODUCT/POOL/COMPANY, TO COVER INDEPENDENT PROVIDERS OF TELEHEALTH-RELATED SERVICES |
| REDI INTERNATIONAL | JARDINS | $10,000 | 2024 | TO PROMOTE ACCESS TO FINANCE FOR THE ROMA COMMUNITY, INCLUDING MICROFINANCE LENDING, WITH THE AIM OF ENDING THE EXCLUSION OF THE ROMA COMMUNITY FROM THE PROVISION OF FINANCIAL SERVICES AND PROVIDING A PATHWAY OUT OF POVERTY. |
| HALA SYSTEMS INC | WILMINGTON, DE | $500,000 | 2023 | TO DEFEND HUMAN RIGHTS AND PROVIDE RELIEF FOR THE DISTRESSED |
| MEDIA DEVELOPMENT INVESTMENT FUND | NEW YORK, NY | $420,000 | 2023 | TO SUPPORT INDEPENDENT MEDIA COMPANIES THAT PROVIDE TIMELY, ACCURATE, AND RELEVANT NEWS, INFORMATION AND DEBATE THAT PEOPLE NEED TO BUILD MORE OPEN, EQUITABLE AND FREE THRIVING SOCIETIES |
| GLOBAL ACCESS HEALTH | LONDON | $400,000 | 2023 | TO PROVIDE RELIEF TO THE POOR AND DISTRESSED BY IMPROVING AFFORDABLE AND EQUITABLE ACCESS TO QUALITY DIAGNOSTICS IN LOWER AND MIDDLE INCOME COUNTRIES ("LMICS"), AND FILLING DIAGNOSTIC GAPS FOR EMERGING THREATS, INCLUDING PANDEMIC PREPAREDNESS AND GLOBAL HEALTH SECURITY IN LMICS |
| LIKER LAND INC | MIDDLETOWN, DE | $250,000 | 2023 | TO SUPPORT THE DEVELOPMENT OF THE INFRASTRUCTURE FOR A MORE ROBUST ECOSYSTEM FOR INDEPENDENT MEDIA |
| ASWEGROW LIMITED | ABERDEEN | $55,000 | 2023 | TO PROVIDE FUNDING FOR THE PROFESSIONAL DEVELOPMENT OF DISADVANTAGED TEACHERS BY CREATING A REVENUE GENERATING LEARNING PLATFORM THAT WILL PROVIDE A BLUEPRINT ON EFFECTIVE BLENDED EDUCATION AT SCHOOL LEVEL, AND IMPROVE THE EFFECTIVENESS OF THE GRANTEES AIM TO ALLEVIATE POVERTY FOR DISADVANTAGED POPULATIONS IN THE LONG RUN |
ACUMEN FUND
$3,000,000TO SUPPORT CLEAN, RENEWABLE ENERGY ACCESS TO COMMUNITIES IN 16 LEAST DEVELOPED AFRICAN COUNTRIES.
ABORTION COALITION OF TELEMEDICINE
$1,000,000TO PROVIDE MALPRACTICE INSURANCE FOR SHIELD PROVIDERS ENABLING TELEHEALTH ABORTION ACCESS.
SCROLL MEDIA INC
$270,000THE PRIMARY GOALS ARE TO DIVERSIFY AND DEEPEN THREE EXISTING REVENUE STREAMS: MEMBERSHIP; GROUND EVENTS AND ADVERTISING.
THE REIMAGINATION LAB
$250,000GENERAL SUPPORT (2024-26) FOR THE REIMAGINATION LAB TO DEVELOP CONSUMER-FACING DIGITAL PRODUCTS TO EXPAND ACCESS TO REPRODUCTIVE HEALTHCARE.
FREE DEMOCRACY FOUNDATION
$250,000PROJECT SUPPORT TO HELP LAY THE GROUNDWORK FOR COMMERCIAL ACTORS TO SCALE THE MOBILE VOTING AND BROADER VOTER ACCESS LANDSCAPE, LEVERAGING TECHNOLOGY TO ENHANCE CIVIC ENGAGEMENT AND PARTICIPATION.
REPRODUCTIVE HEALTH INVESTORS ALLIANCE INC
$250,000GENERAL SUPPORT FOR RHIA VENTURES AND TARGETED SUPPORT FOR RHIA'S CORPORATE ENGAGEMENT STRATEGY.
INDIEGRAF MEDIA INC
$250,000TO SUPPORT AN INNOVATIVE SAAS PLATFORM THAT SUPPORTS INDEPENDENT MEDIA OUTLETS IN NORTH AMERICA.
THE GLOBAL STEERING GROUP FOR IMPACT INVESTMENT
$200,000TO PROVIDE GENERAL SUPPORT
NATIONAL WOMEN'S HEALTH NETWORK
$195,000TO EXAMINE THE FEASIBILITY OF CREATING A NEW KIND OF MEDICAL MALPRACTICE INSURANCE PRODUCT/POOL/COMPANY MODELED ON PLANNED PARENTHOODS OWN INSURANCE COMPANY, TO COVER THE INDEPENDENT PROVIDERS OF TELEHEALTH-RELATED ABORTION SERVICES TO THOSE IN STATES WHERE ABORTION IS NOT LEGAL
THE INTERNATIONAL CENTER FOR TROPICAL AGRICULTURE
$150,000TO SUPPLEMENT THE AMAZON BIODIVERSITY FUNDS (ABF) IMPACT DATA.
IPAS
$150,000ORGANIZATIONAL SUPPORT TO ASEC TO IMPROVE ACCESS TO EMERGENCY CONTRACEPTION IN THE UNITED STATES.
GLOBAL IMPACT INVESTING NETWORK
$150,000TO SUPPORT THREE MAIN ACTIVITIES: DEVELOP FRAMEWORK FOR SOLUTIONS; ALIGN INVESTORS THROUGH THE CLIMATE SOLUTIONS INVESTING FORUM; INITIATE GLOBAL "CAMPAIGN" TO FURTHER ACTION IN CLIMATE SOLUTIONS INVESTING.
MAYDAY HEALTH
$150,000TO SUPPORT AND ADVANCE REPRODUCTIVE RIGHTS IN THE U.S.
GENDER IDEAL DBA REPRODUCTIVE & MATERNAL HEALTH
$100,000TO SUPPORT A PROJECT TO RATE COMPANIES PERFORMANCE, BENEFITS, AND EQUITY ON REPRODUCTIVE CARE.
SYMPLIFICA
$100,000TO FURTHER THE CHARITABLE PURPOSE OF PROVIDING RELIEF TO THE POOR AND DISTRESSED.
CONFLUENCE PHILANTHROPY
$25,000TO IMPROVE CLIMATE JUSTICE BY RAISING AWARENESS OF THE IMPORTANCE OF INDIGENOUS PEOPLES AND LOCAL COMMUNITIES IN CLIMATE FINANCE AND NATURE BASED SOLUTIONS INVESTMENT ACTIVITIES, HELP BUILD RELATIONSHIPS BETWEEN INDIGENOUS PEOPLES LEADERS AND RELEVANT INVESTMENT ADVISORS, AND TO HELP THE GUARDIANS IMPACT ALLIANCE BUILD MOMENTUM TO RAISE SUPPORT FOR ITS FUTURE CONVENINGS
HONEYBEE HEALTH INC
$650,000TO INCREASE ACCESS TO HEALTH PRODUCTS AND SERVICES TO WOMEN WITH LIMITED ACCESS
OLDUVAI LTD
$366,895SUPPORT INDEPENDENT MEDIA COMPANIES THAT PROVIDE TIMELY, ACCURATE AND RELEVANT NEWS, INFORMATION AND DEBATE THAT PEOPLE NEED TO BUILD MORE OPEN, EQUITABLE AND FREE THRIVING SOCIETIES.
MEDIA DEVELOPMENT INVESTMENT FUND
$340,000TO SUPPORT INDEPENDENT MEDIA COMPANIES THAT PROVIDE TIMELY, ACCURATE, AND RELEVANT NEWS, INFORMATION AND DEBATE THAT PEOPLE NEED TO BUILD MORE OPEN, EQUITABLE AND FREE THRIVING SOCIETIES
ENCOURAGE CAPITAL LLC
$250,000TO DEVELOP INNOVATIVE FINANCING PLATFORMS TO COMBAT CLIMATE CHANGE.
INTERNATIONAL FINANCE FACILITY FOR EDUCATION
$150,000TO SUPPORT AN INNOVATIVE FINANCING PLATFORM SEEKING TO CATALYZE RESOURCES INTO GLOBAL EDUCATION NEEDS.
NEW VENTURE FUND
$100,000PROVIDE GENERAL SUPPORT TO THE U.S. IMPACT INVESTING ALLIANCE FOR A PERIOD OF 12-MONTHS.THE ALLIANCE IS A LEADING ADVOCATE FOR 1) IMPROVING THE IMPACT INVESTMENT POLICY ENVIRONMENT IN THE U.S., 2) CATALYZING THE FLOW OF INSTITUTIONAL CAPITAL FOR IMPACT AND 3) BUILDING THE IMPACT INVESTING FIELD GLOBALLY.
NATIONAL WOMEN'S HEALTH NETWORK
$45,000TO EXAMINE THE FEASIBILITY OF CREATING A NEW KIND OF MEDICAL MALPRACTICE INSURANCE PRODUCT/POOL/COMPANY, TO COVER INDEPENDENT PROVIDERS OF TELEHEALTH-RELATED SERVICES
REDI INTERNATIONAL
$10,000TO PROMOTE ACCESS TO FINANCE FOR THE ROMA COMMUNITY, INCLUDING MICROFINANCE LENDING, WITH THE AIM OF ENDING THE EXCLUSION OF THE ROMA COMMUNITY FROM THE PROVISION OF FINANCIAL SERVICES AND PROVIDING A PATHWAY OUT OF POVERTY.
HALA SYSTEMS INC
$500,000TO DEFEND HUMAN RIGHTS AND PROVIDE RELIEF FOR THE DISTRESSED
MEDIA DEVELOPMENT INVESTMENT FUND
$420,000TO SUPPORT INDEPENDENT MEDIA COMPANIES THAT PROVIDE TIMELY, ACCURATE, AND RELEVANT NEWS, INFORMATION AND DEBATE THAT PEOPLE NEED TO BUILD MORE OPEN, EQUITABLE AND FREE THRIVING SOCIETIES
GLOBAL ACCESS HEALTH
$400,000TO PROVIDE RELIEF TO THE POOR AND DISTRESSED BY IMPROVING AFFORDABLE AND EQUITABLE ACCESS TO QUALITY DIAGNOSTICS IN LOWER AND MIDDLE INCOME COUNTRIES ("LMICS"), AND FILLING DIAGNOSTIC GAPS FOR EMERGING THREATS, INCLUDING PANDEMIC PREPAREDNESS AND GLOBAL HEALTH SECURITY IN LMICS
LIKER LAND INC
$250,000TO SUPPORT THE DEVELOPMENT OF THE INFRASTRUCTURE FOR A MORE ROBUST ECOSYSTEM FOR INDEPENDENT MEDIA
ASWEGROW LIMITED
$55,000TO PROVIDE FUNDING FOR THE PROFESSIONAL DEVELOPMENT OF DISADVANTAGED TEACHERS BY CREATING A REVENUE GENERATING LEARNING PLATFORM THAT WILL PROVIDE A BLUEPRINT ON EFFECTIVE BLENDED EDUCATION AT SCHOOL LEVEL, AND IMPROVE THE EFFECTIVENESS OF THE GRANTEES AIM TO ALLEVIATE POVERTY FOR DISADVANTAGED POPULATIONS IN THE LONG RUN