Yesterday’s Global Development Outlook panel at the World Economic Forum included William H. Gates III, David Cameron, Ban Ki-moon, Paul Polman, Helene D. Gayle, H.M. Queen Rania Al Abdullah of the Hashemite Kingdom of Jordan, and Rwanda President Paul Kagame.
According to UNESCO, education lags behind other global development sectors in private sector contributions at only 5% and experts expect the education funding to stagnant until 2015. This lack of funding will irreparably harm the Education for All Goals that should be met by 2015, says UNESCO.
In a recently released policy paper UNESCO argues that the private sector should increase its contributions to education since the levels are currently incredibly low and hover around $638 million dollars annually – far more than a billion dollars less than the amount it takes to send every child in the world to school. This is critically important especially as the World Economic Forum gets underway this week and organizations and NGOs will gobble up private section partnerships for the year.
The 2012 EFA Global Monitoring Report makes four recommendations for improving and increasing funds from the private sector to education:
1. All private organizations should be transparent about the amount and purpose of their commitments. This would allow scrutiny to ensure that business interests do not override collective goals, while also giving information on the amount of resources available to fill the EFA financing gap.
2. To have a lasting impact on EFA, private organizations need to provide sufficient funding over several years to assure the sustainability of initiatives because education is a long-term endeavour
3. Better evaluations need to be carried out of the impact of private sector interventions.
4. Private organizations should align their support with government priorities and countries’ needs. The Global Partnership for Education could play a larger role in pooling and disbursing funds to this end.
The annual World Economic Forum annual meeting takes place in Davos, Switzerland and kicks off on January 23 and continues through the 27th. The theme of the annual meeting is “resilient dynamism” signalling that in this interconnected world there is much to do, but there are strong minds and steadfast organizations and businesses willing to make change.
There are a few key meetings and discussions that we will take a close look a including:
The State of the World: A Strategic Assessment (Thurs 24, 2013 at 9:30 AM CMT) Henry Kissinger and Klaus Schwab
Governments worldwide remain in a weakened condition in one of the most uncertain and fragile periods in recent memory. How can nations restore their legitimacy and effectiveness in the current global context?
The Global Development Outlook (Thurs 24, 2013 at 6:00 PM CMT) William H. Gates III, David Cameron, Ban Ki-moon, Paul Polman, Helene D. Gayle, H.M. Queen Rania Al Abdullah of the Hashemite Kingdom of Jordan, Ngozi Okonjo-Iweala With the Millennium Development Goals expiring in 2015, what should be at the top of the next development agenda?
Women in Economic Decision-making (Fri 25, 2013 at 11 AM CMT) Kevin Kelly, Sheryl Sandberg, Lubna S. Olayanm,Viviane Reding, Drew Gilpin Faust, Christine Lagarde, Laura D’Andrea Tyson, Chaired by: Herminia Ibarra How can gender gaps be closed at the highest levels of economic decision-making?