EAA, Bloomberg, and Key International Partners Hold High-Level Dialogue on Global Future Financing for Education at Qatar Economic Forum
The Qatar Economic Forum in Doha hosted a distinguished high-level dialogue under the theme 'Education: Funding the Future' organized by the Education Above All (EAA) Foundation, in partnership with Bloomberg. This event gathered policymakers including ministers of four governments and global leaders from four development and private banks in the educational and financial fields to focus on developing innovative and sustainable financing mechanisms for education across the world.
The high-level dialogue aimed at constructing effective frameworks to ensure the long-term sustainability of education financing by uniting efforts and creating diverse partnerships to bridge the gaps through innovative financing mechanisms. Discussions emphasized the need for increased global investment and equity in education, understanding the impacts of public debt on social sectors, and the exploration of innovative financing and partnerships. These are critical for enhancing policy implementation and increasing awareness.
Delivering the welcome remarks for the panel, H.E. The Minister of Treasury and Finance, Republic of Türkiye, pointed to the importance of education and giving it priority when determining national budgets. H.E. Dr. Muhammad Sulaiman Al Jasser, Chairman of Islamic Development Bank (IsDB), presented the keynote speech of the session, highlighting the size of the bank's investment in education by allocating large and targeted budgets to benefit member countries and others, as well as the partnership with the Education Above All Foundation. Fahad Al Sulaiti, Chief Executive Officer of EAA Foundation, said: “Sustainable financing models are essential for ensuring long-term success in development and education. In the second part of the session, Minister of Education for the Federal Republic of Nigeria T.H. Prof. Tahir Mamman, OON, SAN; Léonardo Puppetto, Vice President of Lazard; and Sierra Leone Minister of Basic and Senior Secondary Education T.H. Conrad Omalikeh Sackey, presented innovative solutions for financing education through developing financial and educational policies to ensure continuity of education in the face of long-term challenges—moderator by Jennifer Zabasajja, Anchor, Bloomberg Television.
Panelists tackled pathways for global education investment as well as working with international partners to further the global education investment strategy. They also highlighted the impact of public debt on education and the need for expanding areas of knowledge on this subject. The dialogue delved into ways to encourage creative and efficient financing solutions, especially in highly indebted nations, By opening the door for continuous dialogue at both the national and global levels between decision-makers and stakeholders when formulating policies, the successful implementation of national initiatives can be ensured.
According to the Education Finance Watch 2023 Report, although low-income countries have been increasing their year-on-year education spending, the financing mechanisms were not robust enough to fix the ill effects of the pandemic. Additionally, the need for innovative education models and structures underscores the criticality of sufficient education funding for generations to come.
For more information about the International Monetary Fund and the World Bank, please visit www.imf.org and www.worldbank.org.
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Patience Rusare
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