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UNESCO, together with the Governments of Ethiopia, Norway and the Republic of Korea, are calling for increased and more efficient financing of education to ensure no child, youth or adult is left behind. The global leaders are warning that unless efforts are scaled up, the new Sustainable Development Goal to deliver inclusive and equitable quality education and lifelong learning for all will be out of reach.

The message will be conveyed to high-level government, business and civil society representatives at the Third Financing for Development Conference in Addis Ababa, Ethiopia, through a side-event on The Investment Case for Education. UNESCO Director General, Irina Bokova, will stress the need for increased investment, alongside Ethiopia’s Education Minister, Shiferaw Shigute, Foreign Affairs Ministers from the Republic of Korea and Norway, Yun Byung-se and Børge Brende, and Global Partnership for Education Board of Directors Chair, Julia Gillard.

The July 14 event builds on efforts by the global education community at this year’s World Education Forum in Incheon (), Rep. of Korea, and the Oslo Summit on Education for Development in Norway; while focused squarely on September’s UN General Assembly, where a new set of Sustainable Development Goals and an accompanying financial framework is to be adopted.

A recent study into education financing from UNESCO’s Education for All Global Monitoring Report (EFA GMR) touches on the challenge the international community now faces in determining how to pay for the ambitious new education goal. According to the study, the annual total cost for giving all children and adolescents an education in developing countries will rise from US$149 billion in 2012 to US$340 billion between 2015 and 2030. Developing countries will need to increase the amount they spend per primary student from US$70 to US$197 by 2030, and per secondary student from $301 to $536 by 2030.

While domestic resources are still the most important source for funding education, they will not be enough to achieve the new education targets by 2030. For this reason, world leaders at The Investment Case for Education side event will demonstrate how results-oriented development and effective partnerships are needed; not only to make quality learning opportunities available to children, youth and adults, but to achieve long term sustainable development for all countries.

‘The Investment Case for Education’, organised by the Federal Democratic Republic of Ethiopia, Norway, the Republic of Korea and UNESCO, will be held on Tuesday 14 July 2015, from 10:00am to 11:30am, at Elilly Hotel, Gada Hall, Addis Ababa, Ethiopia.