A game-changing
way to drive results
in education

Our aim is to promote inclusive quality education in Africa and the Middle East by using results-based finance to strengthen national education systems.


Who we are

The Education Outcomes Fund for Africa and the Middle East (EOF) is an initiative of the Global Steering Group for Impact Investment (GSG) and the Education Commission.  Our team brings together world leaders in education, impact investing, and innovative finance.

What we do

Together with government, we fund innovative education and youth employment readiness programs, and help improve their effectiveness.


Rather than the traditional model of paying for programs up front – based on the number of students reached or learning materials purchased – we incentivize success by paying for the learning and employment results those programs deliver, once they're achieved.

Our approach


We work with governments to set learning objectives and determine how results will be measured.

We incentivize a broad set of crucial skills essential for young people to succeed in the 21st Century.


Together with government, we partner with education organizations to achieve the agreed learning outcomes and strengthen education systems.

We help mobilize upfront funding from impact investors to help the organizations deliver.

Throughout, we support the organizations to use data, strengthen their capabilities, and adapt their approach, based on what works.


From a pool of public funds, aid, philanthropy, and corporate CSR contributions, we repay investors and delivering organizations their initial investment plus a return if the learning objectives are reached.

By making payments based on independently verified learning and employment results, we ensure that resources only go to programs that work.

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Nothing less than an Impact Revolution will enable us to achieve solutions at scale that can improve billions of lives  


Sir Ronald Cohen, EOF Chair 


Who we work with


We ensure that donors’ funding only goes to what works, scaling programs that demonstrate the best results and value for money. Our structure incorporates rigorous monitoring, evaluation, and transparency of program performance.

Education organizations

By agreeing to pay for results, we enable education organizations to attract upfront capital from impact investors to fund their programs and assume the financial risk. Education organizations are empowered to adapt and innovate based on what is working on the ground.


Teachers are the core of any education system, and their support is essential for any intervention to be effective. We are engaging with teachers’ associations and unions in the design of EOF, and we will help fund programs that build teachers’ capacity to deliver quality education for all.

Civil Society

Civil society organizations (CSOs) play an important role in national education systems – both as providers and as advocates for inclusive, quality education.  For this reason, we actively seek guidance and feedback from local CSOs during both program design and implementation.


Governments are crucial partners in every project, setting objectives, and ensuring programs are aligned with their policy priorities. They will also co-fund the results achieved. We will support governments to build internal capacity to commission and oversee results-based financing programs, ensuring a lasting legacy.

Impact investors

We partner with impact investors who are aligned with our mission and share our objective to help improve learning outcomes. Investors provide upfront capital and management support to education organizations and will be repaid by EOF based on the learning and employment outcomes achieved.


We are focused on putting the needs of students at the heart of how we fund programs. We look beyond just literacy and numeracy, prioritizing social and emotional skills, ICT skills, skills needed to promote sustainable development, and other crucial elements of a quality education.