Noting the financing and funding challenges, at it's 3rd meeting in June 2017 at UN HQ in NY, the Steering Committee endorses the following key messages on financing of education, and commits to advocating for them with the relevant stakeholders using a variety of modalities:
1. Domestic funding
- Governments should increase public revenues, allocating more of additional revenues to education, prioritizing spending on the most marginalized groups. A greater share of increased revenue derived from economic growth or larger fiscal space should be allocated to the education sector, with a focus on ensuring basic education is sufficiently financed through public spending.
- Governments should prioritise equity sensitive allocation and use of education resources in ways that focus on increasing equity, inclusion and support for the most marginalized groups and disadvantaged children.
2. Financing data
- Governments should improve the availability, monitoring, transparency and use of financing data, disaggregated by education sub-sectors, including data on the scale and purpose of household costs of education. They should do so through greater scrutiny of education expenditures, increased capacity development in the collection (including through household surveys) and use of data to inform policy and implementation, and increased investment in more effective tools to track public spending on education.
- Governments should also take steps to understand the scale and purpose of household costs of basic education and take steps to reduce the financial burden on families, particularly the poorest and most vulnerable.
3. Bilateral and multilateral financing of education
- A renewed and concerted effort by aid donors is urgently needed - bilateral donors should meet agreed commitments and should be encouraged to increase funding for education, which has stagnated or decreased in real terms.
- As recommended in the Learning Generation Report, multilateral donors (including multilateral development banks) should increase the share of development assistance dedicated to education up to 15%, while targeting support to countries most in need.
- Donors should also explore innovative financing instruments to catalyse new and additional financing for education that can multiply scarce ODA. Donors should therefore closely examine the opportunity to establish a new financing facility for education in complementarity and articulation with existing funding structures and mechanisms as further details become available about its operational structure and potential impact on financing for the sector as a whole.
- Bilateral and multilateral donors should also increase the share of their humanitarian aid allocated to education while promoting resilience of education systems and strengthening national capacities, including through support to policies and programs aiming at better connecting humanitarian and development aid. This should include efforts to increase ODA progressively to achieve the 4 % target recommended for education in humanitarian aid.
4. GPE Replenishment
- Bilateral, philanthropic and private sector donors should increase their funding for the GPE to reach $2 billion annually by 2020 in order to fully fund grants for its 89 eligible partner countries.
5. Education Cannot Wait Fund
- Donors should provide $3.85 billion to support Education Cannot Wait by 2020 in complementarity with GPE and UN coordination mechanisms.