UNESCO warns that the funding gap to reach SDG4 in poorer countries risks increasing to US$ 200 billion annually due to COVID-19 if we do not take urgent action

As finance ministers gather at the UN on 8 September to discuss Financing for Development in the era of COVID-19, leaders must prioritise investment in education for low- and lower-middle-income countries.

New research from UNESCO’s Global Education Monitoring (GEM) Report shows that school closures due to COVID-19 are projected to increase the annual funding gap for education in poorer countries to as much as US$200 billion per year.  However, investing now in re-enrolment and remediation programmes could reduce the additional funding gap by 75%.

UNESCO’s new estimates first show the striking increase in the annual funding gap to meet the Sustainable Development Goal 4 to ensure inclusive and quality education for all by 2030 in low and lower-middle-income countries. With new annual spending requirements at US$504 billion, the funding gap has increased from US$ 39 billion annually projected in 2015, to US$148 billion annually projected in 2020.  The now shorter span of reaching SDG4, slow progress before 2020, and improvements in data and quality standards are among the reasons for the increase………………………………………………………………