In view of the Financing for Development Conference that will be held in July (Addis Ababa, Ethiopia) to discuss the cost of post-2015 Sustainable Development Goals, UNESCO’s Education for All Global Monitoring Report (GMR) has released a new paper revealing that an annual US$22 billion external funding gap must be bridged if low and lower middle income countries are to achieve quality universal pre-primary, primary and lower secondary education by 2030.
This projected finance gap already assumes a considerable increase in national public expenditure in low income countries on pre-primary and basic education, from 2.3% to 3.4% of GDP between 2012 and 2030. It also assumes an increase in the share of their budget allocated to education to 19.7% over the period.
The paper concludes that aid will remain a crucial source of education finance over the next 15 years if the targets are to be met. Across low and lower middle income countries, donor aid for pre-primary, primary and lower secondary education will need to at least quadruple.