Grant approvals by The Global Partnership for Education (GPE) have reached almost US$300 million in 2018.
“GPE is putting this new education financing to work so that all children can go to school and get a quality education,” said Julia Gillard, Board Chair, Global Partnership for Education. “We are … helping countries strengthen their education systems that will be the backbone of their future prosperity and stability.”
The recent approval of US$55.7 million in new grants for Bhutan, Sierra Leone, Somalia and Zimbabwe follows a first set of grants of US$95.3 million approved in March for Cambodia, Cote d’Ivoire, The Gambia, Guinea Bissau and Madagascar and a second set in May providing more than US$45 million to Cabo Verde, Cambodia, Chad, Comoros and Somalia.
In addition, the Board approved close to US$100 million in allocations to 11 countries from the GPE Multiplier, GPE’s new innovative financing instrument. This funding is set to leverage more than US$400 million in additional financing for these countries.
“The GPE Multiplier has quickly gained traction and is successfully crowding in significantly more investment for education,” said Alice Albright, GPE’s Chief Executive Officer. “The new Multiplier is another example of how GPE continues to evolve to deliver impact and extend its role as a leading catalyst of progress toward the Sustainable Development Goal to educate all the world’s children by 2030.”
[Global Partnership for Education]