The Bank in conjunction with the African Union is developing a US$300 million African Education Fund to boost investments in Africa’s human capital, mainly in technical and vocational education and training, or TVET, as well as science technology engineering and mathematics (STEM), leveraging private sector capital to achieve impact at scale.
We are also placing a strong emphasis on domestic financing and complementarity within the global financing architecture, including GPE’s own co-financing and leveraging facilities.
This is one of the reasons GPE and the African Development Bank Group have been deepening relations, including with the Association for Development and Education in Africa (ADEA).
An evidence base to strengthen response, recovery and resilience
A robust targeting mechanism backed by analytical data on the impacts of COVID-19 on learning, especially on girls, is required to direct funding where it is most needed.
COVID-19 has brought Africa into uncertain times, but Africa is a resilient continent. Africa’s young people see challenges all around them, yet consistently rise to transform them into opportunities.
We must commit to building better educational institutions and skills training infrastructure, beginning with the foundational levels in childhood, to provide young Africans with the tools and skills needed for the 21st century.
This will ensure that African economies have more robust, solid and diversified bases to mitigate against futures shocks, a base built on skilled human capital.
Development partners, the private sector and African governments must join forces to better strengthen Africa’s education sector to withstand current and future pandemics, and prepare Africans for the workforce of today and the future.
Read all the blogs in the "Financing our future" series