The World Bank is committed to helping countries achieve Learning for All, through our financing as well as our policy advice, technical support, and knowledge sharing of what works in education.
In September 2012, World Bank President Jim Yong Kim reaffirmed the World Bank's 2010 MDG Summit pledge to commit an additional $750 million in financing for basic education over five years (2011-2015) from the International Development Association (IDA) to help the poorest countries accelerate progress toward the 2015 Millennium Development Goals (MDGs) for Education.
As of June 30, 2015, the total amount of new IDA commitments for basic education in FY15 is $1,079 million. This amount implies cumulative progress of $2.13 billion towards our MDG pledge, exceeding the original pledge by $1.38 billion.
Over the past three years, the World Bank has provided record support to basic education through IDA, for a total of over $4.36 billion, and remains firmly committed to accelerating global progress towards Learning for All.
In May 2014, the World Bank’s Board approved the $1 billion India: Third Elementary Education Project (Sarva Shiksha Abhiyan III), to be implemented over three years. This IDA project supporting basic education in India is the World Bank’s largest education project in the world, serving the needs of 200 million children and 4.5 million teachers.
IDA Support to Basic Education (US $ Millions)
IDA & IBRD Support to Basic Education (US $ Millions)
[Source: Education Historical Lending Figures]