On the sidelines of the 79th session of the United Nations General Assembly and the Summit of the Future, governments and multilateral organizations have called for increased financing for education in Latin America and the Caribbean. The Dominican Republic and Chile, supported by UNICEF, UNESCO, ECLAC, IDB, World Bank, CAF, OEI, CLADE, and Varkey Foundation, emphasized education as crucial for achieving Sustainable Development Goal 4.
Luis Rodolfo Abinader Corona, President of the Dominican Republic, stated: “Education is the driver of development and the key to transforming our societies; therefore, in the Dominican Republic we are determined to make schools the centre of development and public policies, where the future of our nation is forged.” He invited all sectors to join this effort to ensure education becomes a pillar of equitable and sustainable development.
Nicolás Cataldo, Minister of Education of Chile, highlighted: “As co-chairs of the SDG 4 High-Level Steering Committee... reflecting on enabling conditions for educational processes and sustainable financing is crucial to move from commitment to action.”
The region faces significant challenges with 75% of students not achieving basic skills in mathematics and 50% in reading. Prolonged crises such as COVID-19 have exacerbated these issues. Economist Jeffrey Sachs remarked: "If you want economic success... make sure your education system is delivering."
Carlos Felipe Jaramillo from the World Bank stressed that overcoming this crisis requires smart investments in teacher training and educational materials: "A political commitment from all actors is urgently needed."
Despite efforts to reach minimum funding levels—4% of GDP or 15% of total public expenditure—the region lags behind OECD countries which invest about five times more per student. Therefore, an urgent call was made for increased public investment prioritizing vulnerable students.
The coalition urged governments to enhance sustainable financing strategies through progressive fiscal policies and innovative measures like GPE multiplier funds. They also called for an increase in official development assistance allocated to education.
Strengthening management systems to plan investments and monitor their impact was also emphasized as essential for ensuring sufficient and transparent funding.
Website: www.worldbank.org/lac
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