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EAA and partners devise innovative ways to fund education

EAA and partners devise innovative ways to fund education

Tribune News Network
New York
The Education Above All Foundation (EAA), in partnership with Qatar Fund for Development (QFFD), Islamic Development Bank and other partners, gathered a panel of experts and education advocacy leaders for a side event entitled, ‘Innovative Financing to Address ‘Intractable’ SDG4 Problems’, as part of the United Nations General Assembly.
The EAA brought together stakeholders to discuss progress update and highlight innovative funding models that are bringing additional financial resources to education—including to support girls’ education and children with special needs—with a focus on achieving Sustainable Development Goal 4 (SDG4).
The conversation focused on progress and the remaining challenges in designing and implementing alternative funding modalities for out of school children.
The discussion included new partnerships between EAA and the World Bank where EAA joined the World Bank in committing $250 million to support access to quality education for two million out-of-school students (OOSC) in over 40 countries.
The new agreement is another step in broadening the multi-lateral partnerships EAA established at last year’s UN General Assembly where a partnership with the Islamic Development Bank was announced.
“With international partners, coordination is important. One of the key innovations of our approach with EAA is the pooled fund. The partnership that the World Bank has signed with Education Above All is absolutely critical to addressing these issues,” said Jaime Saavedra Chanduvi, Global Director, Education for the World Bank.
The event featured keynote presentations from Khalifa al Kuwari, director-general of QFFD; Stefania Giannini, assistant director-general for Education, The United Nations Educational, Scientific and Cultural Organization (UNESCO); and Dr Waleed al Wohaib, director-general of Islamic Solidarity Fund for Development (ISFD).
Kuwari said, “In line with the growth in innovative finance in various sectors, QFFD is committed to the long-term improvement of global education, particularly in the world’s poorest countries, in terms of both access and education quality. This includes the provision of education in conflict zones and crisis, improving the resilience and assisting the development of countries education systems as they emerge from crisis.”
Giannini said, “The next 10 years must be focused on delivery, implementation and building capacity in education. We should help to design new models for public investment. To that end, the availability of more complete and accurate data is essential for effective policy planning and monitoring. We also need accountability for how budgets are spent and whether or not they are reaching the intended beneficiaries.”
According to Laurence Breton-Moyet, executive director of Strategy, Partnerships and Communications, Agence Française de Dévelopement, education is linked to the future well-being of the planet.
Panellists and speakers included Fahad al Sulaiti, EAA CEO; Jaime Saavedra Chanduvi, global director, Education, The World Bank Group (WB); Yasmine Sherif, director of Education Cannot Wait (ECW); and Stavros Yiannouka, CEO, World Innovation Summit for Education (WISE).
Comments from the floor were made by Dr Tanjina Mirza, chief of programmes officer, Plan International; and Maryam al Subaei.

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