The World Bank, the State of Qatar, and the global foundation Education Above All announced a partnership focused on expanding access to education worldwide.
The World Bank will work with the State of Qatar and Education Above All Foundation in the development of new, innovative financial tools including the design of potential education investment swaps that could transform low- and middle-income countries’ debt into education results. This approach would drive innovative solutions to the global learning crisis while addressing the debt burden many low and middle-income countries face.
The World Bank and Education Above All will also work together on the design and implementation of co-financed programs to keep children in school and reduce the staggering 70% estimated global post-COVID learning poverty rate. The priorities will be to expand access to quality education for children and youth in developing countries and help create new jobs for young people across the Middle East and North Africa region.
“The rewards of education are vast for each person throughout their lifetime and for entire societies for generations to come,” says Mamta Murthi, Vice President, People Vice Presidency, World Bank. “We are delighted to be partnering with the State of Qatar and Education Above All Foundation to build the human capital of young people worldwide, especially the most vulnerable, to improve their economic opportunities, and contribute to ending poverty on a livable planet.”
“The signed agreement is part of Qatar's ongoing initiatives to reinforce its commitment to multilateral work with the goal of contributing to the development of financial sustainability and enhancing joint cooperation,” said Dr. Saud Abdulla Al-Attiyah, Qatar’s Deputy Undersecretary for Economic Affairs. “This reflects Qatar's deep interest in education as a fundamental pillar for achieving sustainable development.”
“Innovative financing is key for sustainable development, especially for education. It has reduced the burden for low- and middle-income countries and given space for more funding to be allocated locally and invested in education,” said Fahad Al Sulaiti, CEO of Education Above All Foundation. “We are leveraging strong partnerships to drive innovative solutions that will transform the lives of communities and millions of children around the world.”
The World Bank, State of Qatar, and Education Above All Foundation partnership reflects the strategic imperative of investing in quality access to education and of reimagining partnerships that are essential in realizing the ambition of the World Bank’s new development playbook. The World Bank Group is the largest financier of education in the developing world, working in 90 countries and committed to helping them reach SDG4: access to inclusive and equitable quality education and lifelong learning opportunities for all by 2030.
For more information:
The Education Above All (EAA) Foundation is a global foundation established in 2012 by Her Highness Sheikha Moza bint Nasser. EAA Foundation aims to transform lives through education. We believe that education is the single most effective means of reducing poverty, creating peaceful and just societies, unlocking the full potential of every child and youth, and creating the right conditions to achieve Sustainable Development Goals (SDGs).
Through our multi-sectoral approach, unique financing models, focus on innovation as a tool for social good, and partnerships, we aim to bring hope and real opportunities to the lives of impoverished and marginalised boys and girls. EAA Foundation is comprised of the following programmes: Educate A Child (EAC), Al Fakhoora, Reach Out To All (ROTA), Protect Education in Insecurity and Conflict (PEIC), Innovation Development (ID) and Together project.
Mohamed Al-Amri
Education Above All
+1 917-207-4060
msalih@eaa.org.qa
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