The fund raising is part of GPE’s target of achieving U.S. $ 5 billion to transform education for millions of children
The Prime Minister of United Kingdom (U.K.) – Boris Johnson and President of Kenya – Uhuru Kenyatta have together raised U.S.$ 4 billion in a 2-day hybrid event in London, for Global Partnership for Education (GPE).
The GPE is a multi-stakeholder partnership and funding platform that aims to strengthen education systems in developing countries to increase the number of children who are in school and learning. GPE brings together developing countries, donors, international organizations, civil society, teacher organizations, the private sector and foundations. The Global Partnership for Education is the only global fund solely dedicated to education in developing countries.
Launched in 2002, the Global Partnership for Education was originally known as the Education for All – Fast Track Initiative. It was launched to accelerate progress towards the Millennium Development Goal of universal primary education by 2015. Since its inception, GPE has grown from partnering with 7 developing countries in 2002 to close to 70 countries in 2019.
The fund raising is in line with GPE’s target of achieving U.S. $ 5 billion over the next 5 years to transform the education for millions of the world’s most vulnerable children. The GPE aims to enable up to 175 million children to learn and help get 88 million more girls and boys in school by 2025.
Taking it to twitter, Johnson tweeted,
Education is the single best thing you can do to fix the problems of humanity.
— Boris Johnson (@BorisJohnson) July 29, 2021
I am proud we have raised $4 billion for @GPforEducation to transform the lives of millions of children around the world as we #BuildBackBetter from the pandemic.#GES2021 pic.twitter.com/sddcFFSGaB
He further tweeted,
Today the world has come together to invest in young people and their future.
— Boris Johnson (@BorisJohnson) July 29, 2021
Education is the wellspring of opportunity and the best way to #BuildBackBetter from the pandemic.
Thank you to everyone who has made the Global Education Summit a success.#GES2021 https://t.co/eiXz0di0ZR
Speaking on the occasion, Kenyatta said, “I call on my fellow Heads of State to endorse the domestic financing statement and to commit at least 20 percent of your domestic budgets to education. This will ensure that we keep our promises to our children to secure their future through quality and inclusive education.”
The fundraising event in London saw leaders from Governments, businesses, private foundations and development agreeing to contribute to the cause of education. They, along with a range of partners, have mobilized more than U.S. $ 1 billion towards innovative financing instruments that provide catalytic capital to partner countries alongside investments from GPE. The business community and private foundations collectively announced more than U.S. $ 100 million at the Summit. Business partners launched two major new public-private partnerships, to use social marketing expertise to drive up girls’ enrollment in school and to strengthen data systems to drive evidence-based improvements in education systems. These in-kind commitments are valued at more than U.S. $ 6 million.
Prior to this the world leaders, during the G7 Summit, had agreed to pledge at least U.S. $ 2.7 billion to GPE and called on other donors to step up and fully fund GPE’s ambitious new 5-year plan. This includes U.K.’s pledge of £ 430 million (U.S. $ 600 million). This is the UK’s largest ever pledge to GPE and maintains the UK as GPE’s top bilateral donor.
In addition to the funds raised, 19 Heads of State and Government have committed to spending at least 20% of national budgets on education. Over the next 5 years, the countries endorsing this statement are committing up to U.S. $ 196 billion in education financing.
