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Global anti-poverty Non-Government Organization Opportunity International has launched their 2024 Global Education Finance Conference, themed ” The Future of EduFinance: Trends, Innovations, and Opportunities,” a three-day convening of global financial institutions, social impact investors, bilateral donors, and researchers.
The conference brings together over 130 leading financial institutions from around the globe that are investing in schools and families for education in low- and middle-income countries (LMIC) to discuss ways the private sector can help close the education funding gap and unlock the potential of affordable non-state school sector.
The event comes at a pivotal time for the growing education finance sector, with attending organizations celebrating the release of a cumulative USD 1 billion USD in education loans around the world.
“This convening is about achieving a healthier educational ecosystem by simply leveraging private sector capital in ways that are most effective at getting more kids into better schools,” said Opportunity Head of Education Finance, Andrew McCusker.
“The need for educational investment in places like Latin America, Africa, and Asia is undeniable – and the leaders in this room are making it their personal mission to increase access and quality of education for millions.”
The event’s engagements will focus primarily on investing in non-state schools, which are emerging as vital players in supporting overstrained government systems.
UNESCO has reports that 7 out of 10 children can’t read a simple written text by the end of primary school – which is nearly 9 out of 10 children in Sub-Saharan Africa.
However recent studies have shown that financial inclusion efforts can actually help the most vulnerable students achieve better learning outcomes faster.
With the growing, unmet demand for education across LMICs worldwide, these affordable, local non-state schools are filling critical gaps where state education is unavailable or insufficient, ensuring that access to learning reaches underserved regions.
The conference follows the release of two significant reports from Opportunity’s Education Finance program. The 5th Edition of the State of the Affordable Non-State School Sector highlights the growing demand for non-state education worldwide, estimating that an additional 38 million school seats will be needed by 2026 in low- and middle-income countries.
Meanwhile, new impact data reveals that financial inclusion strategies supporting these schools lead to better learning outcomes.
Low-income children and girls, in particular, may gain up to six months equivalent of additional learning in schools that receive financial support and training.
“At Opportunity International, we’re tackling some of the most pressing challenges our world faces today, and at the heart of it is the global education crisis affecting millions of children living in poverty,” said Atul Tandon, CEO of Opportunity International.
“So many of the economic and social issues we grapple with can be addressed by ensuring every child has access to quality education. What we’re seeing today is a clear commitment and urgency to confront this issue from the financial sector, and a strong desire to support a rising Africa.”
With three days of intensive discussions, learning, and collaboration, the event is designed to explore critical issues facing the community leaders building and managing these schools and financial institutions that lend to them.
Topics include challenges in accessing financial solutions, innovative financial approaches, trends in education financing demand, and ensuring gender-equitable student learning outcomes.
Panel discussions will feature renowned experts such as Opportunity International’s CEO Atul Tandon, the National Bank of Kenya, Tanzania’s Ministry of Education, social impact investors and CEOs from leading financial institutions across Africa, Asia, and Latin American.
During interactive breakout sessions, participants will engage in open forums with peers from different continents aimed at sharing best practices and generating innovative solutions that could exponentially expand the impact of education financing to the children that need it most.
About Opportunity International
Opportunity International is a global non-profit that has been equipping people to build sustainable livelihoods and educate their children for 52 years. Opportunity provides 20 million families with innovative financial resources, training, and support to grow their small businesses and send their children to school.
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