Doha: As part of Qatar Economic Forum in Doha, Education Above All (EAA) Foundation hosted a distinguished high-level dialogue under the theme ‘Education: Funding the Future.’ This event gathered policymakers including ministers of four governments and global leaders from four development and private banks in the educational and financial fields to focus on developing innovative and sustainable financing mechanisms for education across the world.
The high-level dialogue aimed at constructing effective frameworks to ensure the long-term sustainability of education financing by uniting efforts and creating diverse partnerships to bridge the gaps through innovative financing mechanisms. Discussions emphasized the need for increased global investment and equity in education, understanding the impacts of public debt on social sectors, and the exploration of innovative financing and partnerships. These are critical for enhancing policy implementation and increasing awareness.
Panelists tackled pathways for globa
l education investment as well as working with international partners to further the global education investment strategy. They also highlighted the impact of public debt on education and the need for expanding areas of knowledge on this subject. The dialogue delved into ways to encourage creative and efficient financing solutions, especially in highly indebted nations, By opening the door for continuous dialogue at both the national and global levels between decision-makers and stakeholders when formulating policies, the successful implementation of national initiatives can be ensured.
Delivering the welcome remarks for the panel, HE Minister of Treasury and Finance Republic of Turkiye Mehmet Simsek, pointed to the importance of education and giving it priority when determining national budgets. HE President of the Islamic Development Bank Dr. Muhammad Sulaiman Al Jasser presented the keynote speech of the session, highlighting the size of the bank’s investment in education by allocating large and targeted
budgets to benefit member countries and others, as well as the partnership with the Education Above All Foundation.
Chief Executive Officer of EAA Foundation Fahad Al Sulaiti said: “Sustainable financing models are essential for ensuring long-term success in development and education.” Minister of Education for the Federal Republic of Nigeria Prof. Tahir Mamman, and Sierra Leone Minister of Basic and Senior Secondary Education Conrad Omalikeh Sackey participated in the panel discussion.
According to the Education Finance Watch 2023 Report, although low-income countries have been increasing their year-on-year education spending, the financing mechanisms were not robust enough to fix the ill effects of the pandemic. Additionally, the need for innovative education models and structures underscores the criticality of sufficient education funding for generations to come.
Source: Qatar News Agency