2+3 = 8: Innovating in financing education

In 2010, the Task Force on Innovative Financing for Education drew up a report setting out the financing needs of the education sector and suggesting a variety of innovative financing mechanisms. This was designed to encourage global, regional, bilateral and national initiatives.
The Report highlights the importance of education as a development issue. The achievement of education goals (MDGs 2 and 3) would help accelerate the achievement of all MDGs (2+3=8). The Report also highlights the close links between education and economic growth. It recalls that education is a right for all enshrined in Article 28 of the 1989 Convention on the Rights of the Child and Article 26 of the 1948 Universal Declaration of Human Rights.
The Report presents two types of innovative financing mechanisms: the first of those present a broad financing base for raising significant amounts of funds for education, while the second ones have a huge outreach potential.