263 million children around the world are missing out on an education. Over half of these are girls and 75 million are out of school due to conflict and natural disaster. Unless we urgently increase the amount of financing available for education we will not come close to achieving quality education for all children by 2030 and millions of children will never set foot in a classroom.
2017 is the year for our leaders to act for education: we need a massive shift in the way we invest in education systems for the next generation. We are asking G20 leaders to call on the World Bank, regional development banks and donors to establish an International Finance Facility for Education (IFFed) which can mobilise $10 billion or more annually in new and additional resources by 2020. These funds can help the poorest countries invest in and strengthen their own education systems.
We need countries, like Germany, France, the EU and the UK to provide grants and commitments to create the facility with $2 billion worth of guaranteed funding in grants and guarantees. Guarantees of $300M with $30M of that provided up front would help to get the IFFEd created.
Their early leadership will demonstrate a much needed step-change in education to help millions of kids.