{"id":41204,"date":"2024-09-26T15:59:18","date_gmt":"2024-09-26T13:59:18","guid":{"rendered":"https:\/\/jacobsfoundation.org\/?p=41204"},"modified":"2024-09-26T16:01:40","modified_gmt":"2024-09-26T14:01:40","slug":"international-finance-facility-for-education-commits-to-1-5-billion-for-global-education","status":"publish","type":"post","link":"https:\/\/jacobsfoundation.org\/international-finance-facility-for-education-commits-to-1-5-billion-for-global-education\/","title":{"rendered":"International Finance Facility for Education commits to $1.5 billion for global education"},"content":{"rendered":"\n<p><strong><strong>During the recent UN Summit of the Future, UN Secretary-General Ant\u00f3nio Guterres and UN Special Envoy Gordon Brown unveiled a groundbreaking $1.5 billion investment in education and skills development for the world&#8217;s most vulnerable children and youth.<\/strong><\/strong><\/p>\n\n\n\n<p>The Jacobs Foundation is proud to support this ground-breaking initiative, which represents the largest single increase in education funding in decades, powered by the transformative International Finance Facility for Education (IFFEd).<\/p>\n\n\n\n<p><strong>Tackling the global education crisis<\/strong><\/p>\n\n\n\n<p>In the face of escalating conflicts, climate challenges, and humanitarian crises, IFFEd is set to tackle the urgent yet often overlooked global education crisis and the massive annual education funding gap \u2013 currently estimated at $97 billion per year through 2030.<\/p>\n\n\n\n<p>Currently, 250 million children are out of school, and over 800 million young people \u2013 more than half of the global youth population \u2013 are expected to leave school without the skills needed for the modern workforce. <\/p>\n\n\n\r\n\r\n<div class=\"quote_testimonial_section with_shape\">\r\n    \r\n                <div class=\"media_section\">\r\n            <div class=\"media_section_inner bg_clr_JF_Aqua_Light\">\r\n                <img decoding=\"async\" src=\"https:\/\/jacobsfoundation.org\/wp-content\/themes\/jacobs-foundation-2\/dist\/images\/Blank_375_318.png\" alt=\"Blank_375_318\" \/>\r\n            <\/div>\r\n        <\/div>\r\n    \r\n    <div class=\"section_inner bg_clr_JF_Aqua_Light\">\r\n        <div class=\"section_container\">\r\n            <div class=\"section_wrapper\">\r\n                <div class=\"left_section\"><\/div>\r\n\r\n                                    <div class=\"right_section with_shape\">\r\n                        <div class=\"right_section_inner\">\r\n                            <div class=\"content_part\">\r\n                                                                    <div class=\"content_part_inner content_top_part\">\r\n                                        <div class=\"quote_icon left_icon\">\r\n                                            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"55\" height=\"42\" viewBox=\"0 0 55 42\" fill=\"none\">\r\n                                                <path d=\"M25.68 3L23.52 42H0L12.96 0L25.68 3ZM54.96 3L52.8 42H29.28L42.24 0L54.96 3Z\" fill=\"#75C4B5\"\/>\r\n                                            <\/svg>\r\n                                        <\/div>\r\n                                        <div class=\"heading_section\">\r\n                                            <div class=\"h2 heading_text small\">\r\n                                                <span><\/span>At the Jacobs Foundation, we are excited to support IFFEd\u2019s $1.5 billion initiative to address the dual challenges of inadequate funding and insufficient use of evidence in education. This historic commitment showcases the visionary leadership of donor countries, multilateral development banks, and philanthropic foundations dedicated to transformative change.<span><\/span>                                            <\/div>\r\n                                        <\/div>\r\n                                        <div class=\"author_section for_mobile\">\r\n                                            <div class=\"author_text body_big_text\">\r\n                                                Fabio Segura, Co-CEO                                            <\/div>\r\n                                        <\/div>\r\n                                        <div class=\"quote_icon right_icon\">\r\n                                            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"55\" height=\"42\" viewBox=\"0 0 55 42\" fill=\"none\">\r\n                                                <path d=\"M25.72 3L23.56 42H0.0400391L13 0L25.72 3ZM55 3L52.84 42H29.32L42.28 0L55 3Z\" fill=\"#75C4B5\"\/>\r\n                                            <\/svg>\r\n                                        <\/div>\r\n                                    <\/div>\r\n                                                                                                    <div class=\"content_part_inner content_bottom_part\">\r\n                                        <div class=\"author_section\">\r\n                                            <div class=\"author_text body_big_text\">\r\n                                                Fabio Segura, Co-CEO                                            <\/div>\r\n                                        <\/div>\r\n                                    <\/div>\r\n                                                            <\/div>\r\n                        <\/div>\r\n                    <\/div>\r\n                \r\n            <\/div>\r\n        <\/div>\r\n    <\/div>\r\n    \r\n<\/div>\n\n\n<p><\/p>\n\n\n\n<p><strong>Supporting lower-middle income countries (LMICs)<\/strong><\/p>\n\n\n\n<p>IFFEd will support education and skills development in lower-middle-income countries (LMICs) which are home to nearly half of the world\u2019s children and youth. Countries such as India, Pakistan, Nigeria, and Kenya are among the most populous LMICs, often referred to as the &#8220;missing middle.&#8221; These nations no longer qualify for grants but cannot afford non-concessional financing. With constrained domestic budgets, their investments in education and skills development are frequently the most affected.<\/p>\n\n\n\n<p><strong>Bringing together governments around the world<\/strong><\/p>\n\n\n\n<p>Founding donors Canada, Sweden, and the United Kingdom have contributed $342 million in guarantees and capital plus $100 million in grants and the Asian Development Bank is serving as IFFEd\u2019s founding multilateral development bank (MDB) partner. The initial $1.5bn phase will, therefore, focus on Asia and the Pacific, home to the world\u2019s largest youth population, before expanding globally to Africa and other regions with new MDB partners.<\/p>\n\n\n\r\n\r\n<div class=\"quote_testimonial_section with_shape\">\r\n    \r\n                <div class=\"media_section\">\r\n            <div class=\"media_section_inner bg_clr_JF_Teal_Light\">\r\n                <img decoding=\"async\" src=\"https:\/\/jacobsfoundation.org\/wp-content\/themes\/jacobs-foundation-2\/dist\/images\/Blank_375_318.png\" alt=\"Blank_375_318\" \/>\r\n            <\/div>\r\n        <\/div>\r\n    \r\n    <div class=\"section_inner bg_clr_JF_Teal_Light\">\r\n        <div class=\"section_container\">\r\n            <div class=\"section_wrapper\">\r\n                <div class=\"left_section\"><\/div>\r\n\r\n                                    <div class=\"right_section with_shape\">\r\n                        <div class=\"right_section_inner\">\r\n                            <div class=\"content_part\">\r\n                                                                    <div class=\"content_part_inner content_top_part\">\r\n                                        <div class=\"quote_icon left_icon\">\r\n                                            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"55\" height=\"42\" viewBox=\"0 0 55 42\" fill=\"none\">\r\n                                                <path d=\"M25.68 3L23.52 42H0L12.96 0L25.68 3ZM54.96 3L52.8 42H29.28L42.24 0L54.96 3Z\" fill=\"#53719A\"\/>\r\n                                            <\/svg>\r\n                                        <\/div>\r\n                                        <div class=\"heading_section\">\r\n                                            <div class=\"h2 heading_text small\">\r\n                                                <span><\/span>Today\u2019s $1.5 billion commitment by the International Finance Facility for Education \u2013 IFFEd \u2013 is the largest one-off investment in global education and skills in decades.<span><\/span>                                            <\/div>\r\n                                        <\/div>\r\n                                        <div class=\"author_section for_mobile\">\r\n                                            <div class=\"author_text body_big_text\">\r\n                                                Gordon Brown, UN Special Envoy for Global Education                                            <\/div>\r\n                                        <\/div>\r\n                                        <div class=\"quote_icon right_icon\">\r\n                                            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"55\" height=\"42\" viewBox=\"0 0 55 42\" fill=\"none\">\r\n                                                <path d=\"M25.72 3L23.56 42H0.0400391L13 0L25.72 3ZM55 3L52.84 42H29.32L42.28 0L55 3Z\" fill=\"#53719A\"\/>\r\n                                            <\/svg>\r\n                                        <\/div>\r\n                                    <\/div>\r\n                                                                                                    <div class=\"content_part_inner content_bottom_part\">\r\n                                        <div class=\"author_section\">\r\n                                            <div class=\"author_text body_big_text\">\r\n                                                Gordon Brown, UN Special Envoy for Global Education                                            <\/div>\r\n                                        <\/div>\r\n                                    <\/div>\r\n                                                            <\/div>\r\n                        <\/div>\r\n                    <\/div>\r\n                \r\n            <\/div>\r\n        <\/div>\r\n    <\/div>\r\n    \r\n<\/div>\n\n\n<p><strong>Public-private sector collaboration<\/strong><\/p>\n\n\n\n<p>This initiative demonstrates a broad coalition of public and private sector partners who have all played a crucial role in IFFEd\u2019s development. Other global philanthropic foundations contributing vital seed funding include the <a href=\"https:\/\/www.atlassianfoundation.org\/\">Atlassian Foundation<\/a>, <a href=\"https:\/\/www.porticus.com\/\">Porticus<\/a>, <a href=\"https:\/\/www.rockefellerfoundation.org\/\">The Rockefeller Foundation<\/a>, and the <a href=\"https:\/\/www.soroseconomicdevelopmentfund.org\/\">Soros Economic Development Fund<\/a>, the impact investment arm of the Open Society Foundations.<\/p>\n\n\n\r\n\r\n<div class=\"quote_testimonial_section with_shape\">\r\n    \r\n                <div class=\"media_section\">\r\n            <div class=\"media_section_inner bg_clr_JF_Midnight_Light\">\r\n                <img decoding=\"async\" src=\"https:\/\/jacobsfoundation.org\/wp-content\/themes\/jacobs-foundation-2\/dist\/images\/Blank_375_318.png\" alt=\"Blank_375_318\" \/>\r\n            <\/div>\r\n        <\/div>\r\n    \r\n    <div class=\"section_inner bg_clr_JF_Midnight_Light\">\r\n        <div class=\"section_container\">\r\n            <div class=\"section_wrapper\">\r\n                <div class=\"left_section\"><\/div>\r\n\r\n                                    <div class=\"right_section with_shape\">\r\n                        <div class=\"right_section_inner\">\r\n                            <div class=\"content_part\">\r\n                                                                    <div class=\"content_part_inner content_top_part\">\r\n                                        <div class=\"quote_icon left_icon\">\r\n                                            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"55\" height=\"42\" viewBox=\"0 0 55 42\" fill=\"none\">\r\n                                                <path d=\"M25.68 3L23.52 42H0L12.96 0L25.68 3ZM54.96 3L52.8 42H29.28L42.24 0L54.96 3Z\" fill=\"#FFDB33\"\/>\r\n                                            <\/svg>\r\n                                        <\/div>\r\n                                        <div class=\"heading_section\">\r\n                                            <div class=\"h2 heading_text small\">\r\n                                                <span><\/span>TTo drive meaningful progress, we must integrate evidence into both education policy and financing. We call on other governments and foundations to join us in this bold effort to ensure that every child receives the evidence-based education they need to thrive.<span><\/span>                                            <\/div>\r\n                                        <\/div>\r\n                                        <div class=\"author_section for_mobile\">\r\n                                            <div class=\"author_text body_big_text\">\r\n                                                Fabio Segura, Co-CEO                                            <\/div>\r\n                                        <\/div>\r\n                                        <div class=\"quote_icon right_icon\">\r\n                                            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"55\" height=\"42\" viewBox=\"0 0 55 42\" fill=\"none\">\r\n                                                <path d=\"M25.72 3L23.56 42H0.0400391L13 0L25.72 3ZM55 3L52.84 42H29.32L42.28 0L55 3Z\" fill=\"#FFDB33\"\/>\r\n                                            <\/svg>\r\n                                        <\/div>\r\n                                    <\/div>\r\n                                                                                                    <div class=\"content_part_inner content_bottom_part\">\r\n                                        <div class=\"author_section\">\r\n                                            <div class=\"author_text body_big_text\">\r\n                                                Fabio Segura, Co-CEO                                            <\/div>\r\n                                        <\/div>\r\n                                    <\/div>\r\n                                                            <\/div>\r\n                        <\/div>\r\n                    <\/div>\r\n                \r\n            <\/div>\r\n        <\/div>\r\n    <\/div>\r\n    \r\n<\/div>","protected":false},"excerpt":{"rendered":"<p>During the recent UN Summit of the Future, UN Secretary-General Ant\u00f3nio Guterres and UN Special Envoy Gordon Brown unveiled a groundbreaking $1.5 billion investment in education and skills development for the world&#8217;s most vulnerable children and youth. The Jacobs Foundation is proud to support this ground-breaking initiative, which represents the largest single increase in education [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":41205,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","mc4wp_mailchimp_campaign":[],"footnotes":""},"categories":[163,46],"tags":[],"post_type_option":[197],"post_focus_option":[288],"country_option":[],"class_list":["post-41204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media-release","category-news-en","post_type_option-articles","post_focus_option-knowledge-communications"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>International Finance Facility for Education commits to $1.5 billion for global education - Jacobs Foundation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jacobsfoundation.org\/international-finance-facility-for-education-commits-to-1-5-billion-for-global-education\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"International Finance Facility for Education commits to $1.5 billion for global education - Jacobs Foundation\" \/>\n<meta property=\"og:description\" content=\"During the recent UN Summit of the Future, UN Secretary-General Ant\u00f3nio Guterres and UN Special Envoy Gordon Brown unveiled a groundbreaking $1.5 billion investment in education and skills development for the world&#8217;s most vulnerable children and youth. 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