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World Bank Group Doubles Results-Based Financing for Education to US$5 Billion

May 20, 2015

On the eve of the landmark World Education Forum 2015, the World Bank Group announced that it will double results-based financing for education to US$5 billion over the next five years. The new financing is part of the Bank Group’s commitment to end extreme poverty in the world by 2030 by improving both the quality and equity of education, so that all children are learning the skills they need to lead more prosperous lives. Despite much progress, 121 million children around the world remain out of primary and lower secondary school. Most of these kids are the hardest to reach, due to poverty, gender barriers, remoteness, and disability. The new global goal for 2030 is not only to get all the remaining children in school but also make sure they are learning the literacy, math, and non-cognitive skills they need to escape extreme poverty, share in the benefits of economic growth, and drive innovation and job creation.