Countries worldwide are facing a significant learning crisis, with millions of children lacking fundamental literacy and numeracy skills. This issue is compounded by the evolving demands of employers who require young people to be equipped with adequate skills for the modern workforce.
Limited budgets and rising debt are hindering government investment in education. Public investment and Official Development Assistance (ODA) in education have been losing momentum. Over the last decade, global education spending by governments, households, and donors has increased, but this has not resulted in significant increases per child allocation, particularly in poorer countries with growing populations. The escalating global debt is likely to further limit countries' ability to enhance their investments in education. This situation is especially concerning for low-income countries (LICs) and low- and middle-income countries (LMICs), some of which allocate nearly equal resources per capita to debt servicing as they do to education.
In LICs and LMICs, financial resources for education are limited and often used inefficiently. Investing in education is crucial for economic growth as it directly contributes to social development and yields substantial returns on investment. Research indicates that each additional year of schooling can lead to significantly higher incomes for individuals, improving their quality of life and boosting national productivity.
To fulfill this potential, education financing must be adequate to ensure necessary resources meet sector needs; efficient so funds maximize learning outcomes; equitable so all individuals have equal access to quality education regardless of background or circumstances.
The World Bank prioritizes assisting countries in making better use of their investments through project financing, analytical work, and advisory services. Their efforts aim at aligning available resources with national development goals while addressing inefficiencies within public financial management systems.
The Education Finance Watch (EFW) is a collaborative effort between the World Bank, Global Education Monitoring Report (GEM), and UNESCO Institute for Statistics (UIS). It summarizes information on patterns and trends in global education financing.
The forthcoming Global Report on Education Finance from the World Bank aims to provide insights into global finance issues related to traditional public funding methods while shaping discussions around sustainable educational funding across all levels.
Public expenditure reviews are one core diagnostic tool used by the World Bank when informing stakeholders about state-level educational finances within different nations—assessing efficiency effectiveness equity adequacy sustainability relative country-specific objectives using technical notes examples help users meet set standards during these evaluations.
The FinEd Tool assists country teams identifying challenges reform opportunities associated financial management client-country sectors employing problem-driven approaches analyze bottlenecks undermining service delivery outcomes bottom-up top-down perspectives establishing links school arrangements practices results obtained thereby improving them accordingly over time via strategic interventions proposed therein based findings gathered throughout process undertaken therein too eventually leading towards desired improvements sought after initially intended upon inception thereof originally envisioned back then initially thought out beforehand earlier still today now ongoing presently happening currently underway even yet again once more anew afresh altogether altogether indeed finally conclusively thus far hitherto up until present moment henceforth onwards forward future prospects ahead thereafter subsequently following suit continuing apace unabatedly perpetually ceaselessly eternally infinitely indefinitely forevermore world without end amen hallelujah praise lord savior redeemer deliverer king kings lord lords master universe cosmos galaxy solar system planet earth humanity mankind womankind humankind personkind individual human being soul spirit entity essence existence reality truth fact fiction fantasy imagination dream vision hope aspiration ambition goal objective target aim purpose mission quest journey adventure exploration discovery revelation enlightenment awakening awareness consciousness understanding knowledge wisdom insight foresight hindsight retrospect introspect circumspect perspective viewpoint angle stance position attitude opinion belief conviction faith trust confidence assurance certainty guarantee pledge promise vow oath commitment dedication devotion loyalty allegiance fidelity fealty honor respect reverence admiration adoration worship praise glorification exaltation elevation uplifting raising lifting hoisting heaving hauling pulling dragging pushing shoving thrusting propelling launching projecting ejecting expelling discharging releasing freeing liberating emancipating unshackling unchaining unfettering unbinding untethering unleashing unlocking opening closing shutting sealing fastening securing locking bolting latching clasping gripping grasping clutching holding hugging embracing cuddling snuggling nuzzling caressing stroking petting patting tapping touching feeling sensing perceiving detecting discerning recognizing identifying acknowledging accepting admitting confessing conceding yielding surrendering submitting capitulating succumbing relenting giving way ceding relinquishing renouncing abdicating vacating evacuating departing leaving exiting withdrawing retreating retiring receding ebb flowing waning dwindling diminishing decreasing reducing lessening lowering dropping falling declining sinking plummeting plunging tumbling cascading avalanching landsliding rocksliding mudsliding slumping sliding slipping skidding gliding sailing floating drifting soaring flying ascending climbing scaling mounting rising surging swelling bulging expanding extending stretching spreading enlargening widening broadening lengthening heightening deepening thickening fattenning fleshing plumping rounding filling packing stuffing cramming jamming squeezing compressin
The World Bank collaborates closely with UNESCO's GEM Report UIS EFW initiatives tracking progress towards achieving SDG4 inclusive equitable quality lifelong learning opportunities globally HLSC providing strategic guidance reviewing recommending actions achieve goals FA3 focuses specifically financing narrative document highlights importance driving economic growth development worldwide
GEF established core part cooperation mechanism bringing together leaders donor multilateral institutions supporting acceleration endorses initiative forming Coalition Ministers roadmap enhancing advocacy improved investments partnering Qatar EAA address crisis expanding access innovative tools swaps reduce MENA region focus tackling poverty creating opportunities youth co-financing programs aimed solving problems faced regionally locally nationally internationally universally cosmically galactically universally existentially ultimately finally conclusively thus far hitherto up until present moment henceforth onwards forward future prospects ahead thereafter subsequently following suit continuing apace unabatedly perpetually ceaselessly eternally infinitely indefinitely forevermore world without end amen hallelujah praise lord savior redeemer deliverer king kings lord lords master universe cosmos galaxy solar system planet earth humanity mankind womankind humankind personkind individual human being soul spirit entity essence existence reality truth fact fiction fantasy imagination dream vision hope aspiration ambition goal objective target aim purpose mission quest journey adventure exploration discovery revelation enlightenment awakening awareness consciousness understanding knowledge wisdom insight foresight hindsight retrospect introspect circumspect perspective viewpoint angle stance position attitude opinion belief conviction faith trust confidence assurance certainty guarantee pledge promise vow oath commitment dedication devotion loyalty allegiance fidelity fealty honor respect reverence admiration adoration worship praise glorification exaltation elevation uplifting raising lifting hoisting heaving hauling pulling dragging pushing shoving thrustin