African leaders who attended the global education summit have pledged to allocate at least 20 percent of their national budgets.
They are among 19 heads of state and government who attended the summit.
Countries endorsing this, are over the next five years committing up to US$196 billion in education financing. These commitments are a crucial shield against learning losses resulting from the economic impact of COVID-19.
Apart from that, the summit has raised US$4 billion from donors in order to fund the Global Partnership for Education (GPE).
According to a statement released by the Ministry of Education, This fundraising total puts GPE firmly on the path to achieving its target of raising at least $5 billion over the next five years to transform education for millions of the world’s most vulnerable children.
It is estimated that a fully funded GPE would enable up to 175 million children to learn and help get 88 million more girls and boys in school by 2025.
The statement further explains that donor pledges secured at the Summit build on the commitment to girls’ education announced last month at the G7, where leaders pledged at least US$2.7 billion to GPE and called on other donors to step up and fully fund GPE’s ambitious new five-year plan.
This includes the UK’s pledge of US$600 million, making the donation largest ever pledge to GPE by the UK.
The business community and private foundations collectively announced over US$100 million at the Summit. Business partners launched two major new public-private partnerships, to use social marketing expertise to drive up girls’ enrolment in school and to strengthen data systems to drive evidence-based improvements in education systems. These in-kind commitments are valued at more than US$6 million.
The Global Education Summit was co-hosted by UK Prime Minister Boris Johnson and Kenyan President Uhuru Kenyatta in London.
The two-day hybrid event brought together leaders from governments, businesses, private foundations and development banks to commit funding and support to children’s education in the world’s lowest-income countries.