Let's face an uncomfortable truth: We face an urgent global learning crisis. By 2030, over half of the world’s children will be failing to learn – a figure that has grown in the wake of COVID-19. How can we expect these children to succeed, without having learnt to read and count properly? At the same time, many countries are confronted by a youth unemployment crisis, which prevents the next generation from achieving better livelihoods, and hampers economic growth.
It is time to consider a new solution to address these twin crises. How can we expect better outcomes if we continue to adopt the same approaches? We need to understand why our education and employment systems are not delivering the change we need, and how we can help them to do better.
A big challenge is finance – existing funding for education and employment programs is insufficient and is not used effectively. Too often, this funding is highly fragmented, and focused on specific inputs and activities.
No longer do funders pay for a pre-agreed list of activities and set programming from education providers. Instead, they define what outcomes they want to see, give providers the flexibility to respond to the needs of the beneficiaries, and only pay for the measurable impact these interventions deliver.
Our aim is to pool at least USD 1 billion in aid and philanthropic funds by 2030, to transform the lives of over 10 million children and youth. Through our game-changing partnership model, we incentivise success by only paying for results achieved, working closely with governments to help scale programs that demonstrate the best results and present the best value for money.
Our mission is to:
Achieve better learning and employment outcomes for 10 million children and youth, in support of Sustainable Development Goal 4: inclusive and quality education for all.
Sustainably strengthen education and employment systems by building the capacity of teaching institutions, as well as governments, policymakers, and service providers that support them.
Develop outcomes funds and results-based finance as development tools to be effective, efficient, and scalable; enabling them to play a valuable role in achieving the SDGs in education and beyond.