Session 3C: Innovative Financing for Equitable Education
- Ms. Hyemin Lee, Pan-Impact Korea
- Ms. Arushi Terway, NORRAG Australia
- Ms. Sowirin Chuanprapun, UNESCO Bangkok
Moderator: Dr. Rubkwan Tharmmapornphilas, UNICEF Thailand
Scope: In the past decades, government agencies, civil society, development partners, and private sector have been making efforts to improve access to and quality of education of marginalized children. Despite these firm commitments, educational challenges remain for most disadvantaged children, in particular, the last 5% of these children who are the hardest to reach or out of school. Therefore, it is crucial to shift our current business-as-usual approaches to financing, and consider non-traditional financing schemes that can offer innovative solutions. This session provides examples of groundbreaking financial models that have made a significant change in addressing the needs of marginalized children as well as measuring the social outcomes. Successful approaches such as Pay for Success and Conditional Cash Transfer models including Social Impact Bonds (SIB) and Development Impact Bonds (DIB) which are designed to overcome the challenges of the governments in investing in education will be discussed. This session is appropriate for anyone interested in non-traditional financing models to promote equity-based education.