Innovative Finance for Development: Sustainable Finance & Impact Investing

Arava Institute for Environmental Studies & Milken Innovation Center in partnership with UC Berkeley (DEVP 296) & Hebrew University (MBA 55721)

Finance is more than capital flows—it is a driver of solutions to global challenges. This course introduces the tools of innovative finance that address urgent needs in sustainability, health, energy, and development. From impact bonds and blended finance to community venture capital and climate-linked securities, students learn how financial innovation can generate measurable social, environmental, and economic impact.

Taught by Prof. Glenn Yago (UC Berkeley & Hebrew University), founder of the Milken Institute’s Financial Innovation Labs, the course combines global expertise with hands-on application. Students gain both the theory and practice needed to design financial solutions that mobilize resources and advance inclusive growth.

Application Deadline
October 12, 2025

Course Highlights

Expert guest lecturers from leading global finance, investment, and development institutions.

Access to real-world project finance tools, templates, and data sets.

Integration of financial theory with applied project consulting.

Opportunities to work on projects in emerging markets with tangible policy and investment outcomes.

Additional
information

Online Course Details:

Start Date: October 23rd, 2025
Duration: 14 weeks (one session per week).
Schedule: Thursdays, 18:30–20:30 (Jerusalem Time).

Applicant Eligibility

Must have Bachelor’s degree
Language: English.
Course fee: Free for eligible candidates.
Arava Institute affiliation

The course is designed for graduate students interested in sustainable finance and development, and does not require prior experience in finance. Participants who complete the course and develop a viable project concept note may be eligible for fellowships and field workshops through the Milken Innovation Center. Instruction begins online in Fall 2025 and includes joint sessions with students from UC Berkeley and the Hebrew University Business School. The course is open to the Arava Institute ecosystem including students, alumni, staff, and Track II Environmental Forum partners. Successful graduation will be granted with an official certificate from the Arava Institute, UC Berkeley, and the Hebrew University.