IslamicFinance.de

The financing gap continues to be one of the major obstacles to global development efforts. For the global education agenda, the United Nations Educational, Scientific and Cultural Organization (UNESCO) estimates the current need at $42 billion annually through 2015. Even with donors’ contributions, the yearly gap remains $38 billion. To help tackle this challenge, the United Nations General Assembly established the Intergovernmental Committee of Experts on Sustainable Development Financing to support countries in mobilizing more resources and to advise them on how to spend these resources more effectively. The Arab world could also play an important role as a partner in finding more sustainable solutions to addressing the global education financing gap.