The Arab Coordination Group (ACG), the Islamic Development Bank (IsDB), and GPE have joined forces to launch the ACG Smart Education Financing Initiative (SmartEd), the Global Partnership for Education reported. This initiative aims to channel increased financing towards getting more children into school and enhancing their learning experience. In 2023, package totalling $220mn was assembled to enhance access and equity, improve education quality, and bolster the efficiency of the education system.
SmartEd employs an innovative approach to scale education financing. It leverages $4 in co-financing for every $1 mobilized from GPE, thereby assisting partner countries in bridging financing gaps and addressing education challenges.
Impact of SmartEd in Uzbekistan
In 2023, SmartEd facilitated blended co-financing of $160mn, enabling Uzbekistan to unlock a $40mn GPE Multiplier grant. This grant further incentivized the Uzbekistan government to allocate an additional $20mn to complement the SmartEd financing.
Through SmartEd, Uzbekistan is undertaking the construction and equipping of over 80 schools. Additionally, the country is enhancing its education management information systems to improve data availability for monitoring and informed decision-making.
Enhancing learning experience
SmartEd is not only about increasing access to education but also about improving the quality of learning. This is being achieved through curricula reforms, teacher professional development, and the provision of new teaching and learning materials.
Insights from Shahnoz Valijonbekova
Shahnoz Valijonbekova, a staff consultant at the IsDB’s Regional Hub of Almaty, shared her experience partnering with ACG and GPE through the SmartEd Financing Initiative.
Future of education financing
SmartEd is paving the way for innovative financing instruments to ensure more children are in school and learning. While Uzbekistan has received support from many development partners to address challenges related to access and quality of learning opportunities, SmartEd offers a unique opportunity to adopt a more holistic approach with investments in inclusive school infrastructure and key elements of education quality.
Driving factors behind IsDB’s investment in SmartEd
The Islamic Development Bank (IsDB), a South-South cooperation, has identified that two-thirds of its member countries are grappling with significant challenges in accessing education financing. Many of these countries are falling behind in achieving Sustainable Development Goal 4 (SDG 4), with persistently low literacy rates, high numbers of out-of-school children, limited access to preschool education, and subpar learning outcomes. The struggle to secure and mobilize adequate financial resources to address these challenges is a common thread among these countries.
Given the limited resources of the IsDB, the bank is continually seeking innovative financing solutions to support its member countries. The SmartEd Financing Initiative is one such solution. The IsDB firmly believes that initiatives like SmartEd can multiply opportunities to bring about transformative changes, enabling member countries to achieve SDG 4.
Successes and future prospects of SmartEd program
The adoption of best-practice approaches, strategies, and processes in program development and design has led to positive trends in the way reforms are planned and implemented in Uzbekistan. These include the development of a common vision for the education system through an evidence-based and participatory approach, and the commitment of the government and its partners to achieving a transformational change in education service delivery for all children.
A robust program monitoring, evaluation, and learning framework has been put in place to closely monitor the successes achieved and lessons learned, thereby helping to improve performance and results.
The Ministry of Preschool and School Education played a pivotal role in developing the Partnership Compact and designing the SmartEd program, ensuring alignment, consistency, and appropriate linkages with government objectives and plans.
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