EOF aims to fill a clear gap in the existing architecture, providing multilateral, results-based finance primarily to non-state actors. EOF will work in coordination with the Global Partnership for Education (GPE) and other funding bodies, to ensure a coherent and unified financing framework.

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Over the past decade, the financial architecture for education has seen a much-needed growth in the scope of financing mechanisms. The most notable entrants include:
 

• The Global Partnership for Education (GPE) mobilizes finance from public and private sources around the world to fund governments, encouraging developing country partners to increase their domestic financing for basic education.

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• Education Cannot Wait brings together governments, humanitarian actors, and development efforts to rapidly respond to the educational needs of children and youth affected by crises.

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• The International Finance Facility for Education (IFFEd) will create an attractive, low-interest financing mechanism for governments of lower-middle-income countries, through partnerships with multilateral development banks and donors.

 

However, there are a number of clear gaps in the existing financing architecture:
 

• Fragmentation of funding for non-state actors, from both donor agencies and philanthropy.
   

• Inconsistent alignment of funding for non-state actors to government priorities.
   

• Significant funding for non-state actors into programs that lack transparency and accountability, or do not demonstrate the desired results.
   

• Fragmented efforts to develop impact bonds, leading to inefficiency in their design and execution.

 

EOF aims to address these gaps, providing multilateral, results-based finance primarily to non-state actors, reducing fragmentation, increasing the effectiveness of how they are funded, ensuring consistent alignment to government priorities, and improving the efficient use of results-based finance.