Prince Charles and Duchess of Cornwall, Camilla arrive in India

Prince of Wales, Charles Philip Arthur George along with Duchess of Cornwall, Camilla Parker Bowles arrived in India on Wednesday and have decided to back a new development bond for India which will provide education to marginalised children in the country.

The British Asian Trust was created by Prince Charles, with the aim to curb poverty in South Asia.

With this in mind, Prince of Wales had instituted a 10 million Education Development Impact Bond (DIB) as an innovative and sustainable social impact investment tool which will be tied in with performance and outcomes of educational initiatives.

Beginning with India, this bond will finally circle across the trust's other regions of operations.

"I hope that through the trust we can impact the lives of not just children in India but also change the mindsets of philanthropists around the world," said Prince Charles.

As part of the initiative, the DIB will be funding four not-for-profit delivery partners in India for a period of four years and create a result-oriented way to generate more capital into development, with a strong emphasis on data and evidence.

The initiative plans to create technical support and deliver insights as well as provide a wide range of operational models including principal and teacher training, direct school management, and supplementary programmes.

They will be on a two-day visit to India as part of their 10-day four nation tour to Singapore, Malaysia, Brunei and India.

(With inputs from PTI)