Secretary-General António Guterres, speaking alongside Special Envoy for Global Education Gordon Brown, drew attention to the critical issue of innovative financing for education.

UN News/Abdelmonem Makki

He reminded us that “the world is facing multiple crises” and that governments, businesses and families around the world are feeling the financial strain.

Moreover, two-thirds of countries have cut their education budgets since the COVID-19 pandemic began.

“However Education is a building block of a peaceful, prosperous and stable society,” he stressed..

“In effect, cutting investments ensures that a more severe crisis is still ahead.”

“Urgently” Needed Educational Support

A senior UN official said:

He argued that while wealthy countries could raise more money from domestic sources, many developing countries were facing a cost of living crisis.

“They urgently need educational assistance,” Guterres testified.

How resources work

He then launched the International Finance Facility for Education to finance most of the world’s displaced and refugee children, as well as low and middle income countries with 700 million out-of-school children. spotlighted the role.

The UN secretary-general told media that the facility is not a new fund, but a mechanism to increase the resources available to multilateral banks to provide low-cost education funding.

“Over time, we hope to grow into a $10 billion facility to educate the youth of tomorrow’s generation,” he said.

“This complements and works in tandem with existing tools such as the Global Partnership for Education, which provides grants and other support.”

The Secretary-General congratulated the Special Envoy and all the countries and institutions involved in the launch of the facility.

“I urge all international donors and charities to support it,” he said.

take a step

Deputy Secretary-General Amina J. Mohammed today reaffirmed the need for education reform at the opening of the Summit’s second Day of Solutions. equity and inclusion; rethinking curricula and innovation in teaching;

“But frankly, we need more and better funding,” she stressed. “You can’t do this with fresh air. You have to supply fuel.”

She described education as a “huge ecosystem” that supports many other lofty goals and called for a “sense of urgency” in scaling the project.

“No more pilot projects. We know exactly what to do,” she said. “it’s all about taking a step”.

build the future

The three-day Transforming Education Summit kicked off yesterday at the United Nations Headquarters in New York.

It began with a youth-led day of mobilization, including donations from the Secretary-General, Deputy Secretary-General and President of the 77th General Assembly, Chaba Colesi.

Tomorrow, the UN Secretary-General will present his vision statement alongside world leaders in the UN General Assembly Hall as the summit closes.