Millions of children risk being left behind unless world leaders, philanthropies and companies take bold action.
A new report by the Global Business Coalition for Education and Theirworld highlights that millions of children risk being left behind unless world leaders, philanthropies and companies take bold action.
At least an additional $75 billion a year, on average, is needed to meet the United Nations’ goal of quality education for every child by 2030. Current aid to education is just $16 billion a year, and is projected to fall. None of the economic recovery plans on the table propose how to fill the gap.
$16B per year
Current Education aid
$75B per year
needed to meet the United Nations’ goal
Mobilizing $1B to support education
could leverage $25b in support
The Education Finance Playbook offers opportunities for business leaders and philanthropists to leverage innovative finance and partnerships with the public sector to make education a central pillar of the global recovery efforts.
It calls on:
- governments to prioritize education
- the international community to fund the global education appeals, including UN agencies, international organizations, the Global Partnership for Education and Education Cannot Wait, and
- to invest in innovative finance through the International Finance Facility for Education.
How could a philanthropist transform the field of education finance in the aftermath of the pandemic?
The Playbook shows how a philanthropist contributing $1 billion to the facility would unlock $3.14 billion in education finance in a year and upwards of $25 billion through a partnership with donor governments.
How could a group of companies revolutionize education in a country?
Corporate leadership would add a new degree of positive engagement from the private sector in support of public education systems at the national level, encouraging more donor countries to come to the table and leverage their resources.
The Playbook shows how companies collectively mobilizing $10 million to support national education efforts, could leverage an investment of $110 million in support of the national government’s efforts to accelerate education progress in the recovery phase.