Financing education: an overview of the landscape

Group Submission Type: Formal Panel Session

Proposal

Finance is critical to achieving and sustaining quality education, and education finance reform and interventions are crucial in a systems approach to strengthening education. The Sustainable Development Goals will require significant additional resourcing in order to meet the goals of the 2030 Agenda. Therefore, there has been renewed focused and attention on development financing across sectors, including in education. At the same time, domestic governments are under significant pressure. Improvements in access to primary education have put pressure on governments to provide secondary education, as well as higher education and technical and vocational training (TVET). Demographic changes – particularly the growing youth population and urbanization – are making this challenge particularly urgent, particularly in Sub-Saharan Africa and South Asia. The International Commission on Financing Global Education Opportunity identified a $1.8 trillion financing gap to achieve the goal of quality, relevant, and equitable education for all children. Others, such as UNESCO, have estimated a $39 billion per year gap. In addition, private institutions and actors are playing an increasingly prominent role in financing development interventions, including in education. Private institutions bring new instruments, innovations, and resources, and governments and bilateral and multilateral partners are paying attention.

This panel presentation will address the critical issue of education financing, giving an overview of the sub-sector, the contributions of key stakeholders, and discussing how to strengthen financing for education. It will articulate the "big picture" narrative of financing for education, drawing on recent research from USAID, the World Bank, and Pole de Dakar. It will also draw on historical lessons learned from East Asia to look at countries which have successfully improved education outcomes.

Sub Unit

• SIG: Economics and Finance of Education

Chair

• Suezan Lee, US Agency for International Development (USAID)

Individual Presentations

• USAID’s literature review: Who provides the majority of financing for education? Who pays, and what do they pay for? - Caitlin Hurley, US Agency for International Development (USAID)

• Education Public Expenditures - Samer al Samarrai, World Bank

• Financing inclusive education - Beifith Kouak Tiyab, Pole de Dakar

• Lessons learned from East Asia on policymaking - Harry Anthony Patrinos, World Bank

• How does Blockchain fit, if at all, into Education Finance and Value for Money Assessments? - Christine Harris-Van Keuren, SALT Analytics

• Human capital for growth: rethinking the contribution of education from comparative perspective - Pavel Sorokin, National Research University Higher School of Economics; Isak Froumin, Institute of Education HSE