DOHA: Business and philanthropy leaders were urged to accelerate the effort to provide and finance quality basic education for the world’s estimated 57 million out of school children, during a private event at the 2014 Annual Meeting of the World Economic Forum, by Education Above All (EAA), a global initiative of H H Sheikha Moza bint Nasser.
With fewer than 700 days before the Millennium Development Goals deadline, EAA highlighted the long-term impact of investment in primary education on GDP as the imperative for immediate and sustained action.
Current funding for basic education in low income countries covers less than 10 percent of the amount required, leaving a funding gap of $24bn per year. To close the gap, EAA aims to link proven programmatic success with innovative funding mechanisms to open opportunities for new sources of funds – from philanthropists, official development assistance, investors, foundations and business.
Commenting on the need for new investment in education, Dr Abdullah Al Kubaisi, Special Envoy for Education Above All, said: “EAA has come to the World Economic Forum to call for new investment to support education. In the past the public and private sectors have stood up and made significant progress on issues of great social and economic importance, such as public health. We have today the same chance with primary education — to prevent lost opportunity and reduce poverty. Education can transform individual lives, and also economic outcomes for communities and nations.”
Launched in 2012, Educate A Child, a global program of Her Highness’ Education Above All Foundation aims to significantly reduce the estimated 57 million children worldwide who are denied their fundamental right to education. EAC projects reach countries that account for nearly 70 percent of all out of school children.
Its focus is on replicating and scaling-up successful quality programs, promoting innovative approaches and encouraging collaboration, to ensure the best outcomes for children and their communities.
To date, EAC has supported more than 2 million out of school children via 44 co-funded projects in 24 countries with a goal of reaching 10 million by the end of the 2015-2016 school year.
The Peninsula
