This report is the result of a collective work carried out by the Writing Committee commissioned by the Task Force on Innovative Financing for Education created by the Leading Group on Innovative Financing for Development in March 2010.
In the last two decades, a wide consensus has emerged on the necessity to scale up the volume of aid directed to developing education systems. At the international level, this consensus has materialized in joint commitments of the donor community and the governments of partner countries to achieve the Education For All (EFA) goals contained in the Dakar Framework of Action, and the Millennium Development Goal (MDG) for universal primary education, contained in the Millennium Declaration of the MDG Summit.
While recent assessments indicate that the MDGs will be hard to attain if development aid continues to flow at the current pace, the Task Force believes that increased investment in education is fundamental to change this trend by boosting progress towards the achievement of all 8 MDGs. A number of recent studies have confirmed the central role of education in a country’s development process, demonstrating that access to quality education has a positive and significant impact on economic and social indicators.
The report explores possible innovative financing schemes dedicated to the education sector on the basis of literature review, meetings with relevant professional actors and the expertise of international consultants.