Financing for Impact in the Education Sector

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Even before the coronavirus outbreak, U.N. projections showed that globally more than 200 million children would be out of school, and only 60 per cent of young people would be completing upper secondary education in 2030. The COVID-19 outbreak has further exacerbated the challenges facing the education sector. According to a U.N. 2022 report, most education systems in the world have been severely affected by education disruptions. School closures brought on by the pandemic have had devastating consequences for children’s learning and well-being. It is estimated that 147 million children missed more than half of their in-class instruction over the past two years. This generation of children could lose a combined total of $17 trillion in lifetime earnings in present value. School closures have affected girls, children from disadvantaged backgrounds, those living in rural areas, children with disabilities and children from ethnic minorities more than their peers.