Africa-Press – Botswana. The United Nations and several partners launched, this Sunday, a fund to support the education of vulnerable children in the world, with an initial allocation of 2 billion dollars, which could reach 10 billion by 2030.
The International Finance Facility for Education – whose allocation in dollars and euros is similar to the current exchange rate – will be used to respond to the current education crisis and the growing inequalities in this field, exacerbated by the combination of the pandemic of Invi- 19, climate change and conflicts around the world, clarified the United Nations (UN).
The project, which has been in development for years, uses a combination of donor grants and state guarantees to generate funding, which can be used for education projects.
The UN stresses that the mechanism will multiply by seven times each dollar invested, compared to traditional aid.
The Netherlands, Sweden and the UK have been at the forefront of the initiative, which aims to compensate for declining resources for education in poor and middle-income countries.
The new fund will be officially launched at the Summit for the Transformation of Education, convened by the Secretary-General of the United Nations, António Guterres, which takes place today.
The UN has been organizing discussions on the issue since Friday, first with youth representatives, and yesterday with the private sector and organizations from different areas, potential partners in the initiative.
“To truly transform education we need a total change”, underlined Gordon Brown, former British Prime Minister and UN envoy for Global Education, in a statement in which he considered the multiplier effect of the financial instrument now launched and the importance of this dynamics in helping the world’s most vulnerable children.
For More News And Analysis About Botswana Follow Africa-Press
