INNOVATIVE SOLUTIONS WORK TO FILL US$8.5 BILLION FUNDING GAP FOR EDUCATION IN CRISIS
22 September 2018, New York – Filling the massive US$8.5 billion gap in funding for education in crisis will require innovative solutions and a transformational shift in the way education is financed and deployed for children and youth living in countries affected by emergencies, conflict and displacement.
At today’s Global People’s Summit, the three winning ideas for prizes of US$25,000 for developing a business plan were announced by Education Cannot Wait, a global fund that works to deliver education in conflict and crisis settings, to three promising proposals that use new technologies, new ideas and new ways of thinking to mobilize funds.
The winning innovations emerged from and are the outcome of Education Cannot Wait’s Resource Mobilization Challenge.
Resource Mobilization Challenge Winning Ideas
- Global Investment Fund by Yasser Bentaibi, 4usConsulting, from Morocco: Waqf (charitable endowments) would invest in economic empowerment programmes. The profit generated would be used to support education in emergencies.
- Every Child Needs a School – Book Industry supports ECW by Mary Muchena-Stredwick and Rachel Stredwick from the United Kingdom: International book publishers, retailers and authors would sign-up to contribute up to 1 percent of the net sale of book purchases to the ECW Fund.
- 1-in-9 Fund by Brock Warner, War Child Canada, from Canada: Establish a publicly traded investment fund which would direct a share of the fund’s management fees to support children and youth affected by conflict and crisis. 1 in 9 children are living in a war-affected country.
“The most crucial challenge of our times is that of ensuring inclusive education and quality learning to children and youth suffering the brunt of crisis and loss of opportunities. We need to be vigilant to their needs and rights. What they expect from us and what we expect from them are two sides of the same coin: productive lives and positive contributions to society. To get there, we need extraordinary solutions – solutions that gently shake the world and engage all of us: political stakeholders, civil society, businesses, entrepreneurs and individuals,” said Yasmine Sherif, Director of Education Cannot Wait (ECW), during the announcement ceremony. “At ECW, we are working hard every day to access the abundance of financial resources that circulate on the globe: to mobilize the resources and inspire political commitment to meet the educational needs of 75 million children and youth in conflicts and disasters.”
The Resource Mobilization Challenge is a promising step in building momentum for a global movement that is working to provide more agile, connected and faster responses to the pressing needs facing the 75 million children living in crisis-affected areas that are in urgent need of education support.
“I am delighted to be one of the winners of the ECW Challenge because I truly believe that ‘Every Child Needs a School,'” said Mary Muchena. “My idea of channeling micro payments has the potential to raise and leverage significant amounts and presents a great opportunity to inform and connect the world with stories from school going children in crises countries. I am a book worm and with many others out there we can together dent the gap in education in emergencies funding.”
The winning ideas were announced at a live show during today’s Global People’s Summit, an online digital summit in partnership with the United Nations during the United Nations General Assembly (UNGA).
The announcement calls attention to world leader’s attending the General Assembly, where a number of high-level events on youth, crisis, recovery, education and sustainable development are expected to propel the need for improved funding and support for more sustainable solutions for education in crisis.
“Our resource mobilization Challenge Winners combine creativity, knowledge, compassion and enthusiasm. That’s what we need if we are to make quality education a reality for 75 million children and youth in crisis,” Sherif said.
Learn more about the funding gap for education in crisis
- Across the globe 75 million children in crisis-affected areas are in urgent need of education support. Learn More
- There is an estimated funding gap of US$8.5 billion for education in crisis. Learn More
- Meet the finalists of the ECW Resource Mobilization Challenge.
Read the full Press Release here: PR_20180922_Resource-Mobilization-Challenge
Notes to Editors:
Details on ECW’s Resource Mobilization Challenge are available at: www.educationcannotwait.org/challenge
About Education Cannot Wait (ECW)
ECW is a global fund launched by international humanitarian and development aid actors, along with public and private donors, to deliver education in conflict and crisis settings. The Fund aims to generate additional resources to close the annual $8.5 billion gap to meet the needs of 75 million children and young people whose education is disrupted by crisis. ECW’s investment modalities are designed to usher in a more collaborative approach among actors on the ground, ensuring relief and development organizations join forces to achieve education outcomes.
ECW’s Secretariat is hosted by UNICEF in its Headquarters in New York.
Additional information is available at www.educationcannotwait.org
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