MDBs’ Joint Statement on Proposal for International Finance Facility for Education | Asian Development Bank

MDBs’ Joint Statement on Proposal for International Finance Facility for Education

Statement | 11 May 2018

MANILA, PHILIPPINES (11 May 2018) — In 2015, the international community committed to the Sustainable Development Goals, including Goal 4, which is to ensure inclusive and equitable quality education and promote lifelong learning opportunities for all. That same year, in Addis Ababa, multilateral development banks committed to work together to assist countries to generate the needed financial resources.

In this context, we welcome the proposal for the International Finance Facility for Education. Urgent and unparalleled action is needed to create a learning generation. The facility proposes innovative ways to make education financing more affordable for countries while leveraging the ability of MDBs to raise additional funds. We are pleased to be working together to explore ways to make such a facility feasible and ensure that it meets the objective of expanding support to countries committed to invest in and reform their education systems to reach the SDG targets.

“Greater investment in education is essential to ensure continued growth and prosperity in the Asia and Pacific region,” ADB President Mr. Takehiko Nakao said. “We look forward to working together with the International Finance Facility for Education to leverage donor funds and create new ways for countries to increase their investments in our region's next generation.”

(Issued by the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, and the World Bank).