NEW YORK, July 9, 2017 /PRNewswire/ --The G20, an annual meeting bringing together the leaders of the world's 19 wealthiest countries and the European Union, acknowledged the International Commission on Financing Global Education Opportunity's (the Education Commission) game-changing proposal to finance global education. Leaders at this year's Summit in Hamburg, Germany committed themselves to advancing the International Finance Facility for Education, a breakthrough initiative which could make it possible to fund universal education.
The International Finance Facility for Education, which could generate $10 billion annually by 2020, was put forward to G20 leaders by the United Nations Secretary-General.Of all the proposals in development and under consideration, the G20 chose to take note of a bold, new initiative and have agreed to carry this momentum forward as Argentina assumes the G20 Presidency. In doing so, leaders made a pledge to prioritize the financing needed to ensure 825 million children - a 2030 projection for those likely to lack the schooling necessary for employment - are instead in school and learning.
The 2017 G20 Leaders' Declaration text reads: "We note the UN Secretary-General's proposal to establish an International Finance Facility for education taking into account other existing initiatives, such as the Global Partnership for Education and Education Cannot Wait, and look forward to examining it in further detail under Argentina's Presidency with a view to making recommendations on it."
Commenting on the G20 Summit, Education Commission Chair Gordon Brown said: "Today's Declaration is a victory for the world's children. Delivering an education to every child is the civil rights struggle of our time, and G20 leaders have affirmed this right by recognizing the urgently-needed International Finance Facility for Education. The work starts now to make the facility operational. As long as a single child is denied their right to education, we still have work to do."
Launched in 2015, the Education Commission is a major global initiative engaging world leaders, policy makers and researchers to develop a compelling investment case and financing pathway for achieving equal educational opportunity for children and youth.
The Education Commission is chaired by Gordon Brown, guided by 26 high-level members and co-convened by Norway, Chile, Indonesia, Malawi and UNESCO.
