Education

Education is a human right, an important engine of development and one of the most effective instruments to reduce poverty, improve health, achieve gender equality, peace and stability. In addition to generating high and constant benefits in terms of income, it is the most important factor in guaranteeing equal opportunities. At the individual level, it promotes employment, income, health, and poverty reduction. Globally, hourly earnings increase 9% for each additional year of schooling (i). At the societal level, it contributes to long-term economic development, promotes innovation, strengthens institutions and fosters social cohesion. Indeed, making smart and effective investments in people is essential to developing the human capital that will end extreme poverty.

Developing countries have made tremendous strides in getting children to school, and the number of children in school has increased worldwide. However, as highlighted in the World Development Report 2018 (i), learning is not guaranteed.

According to recently compiled data, by the time they finish primary school, 53% of all children in low- and middle-income countries cannot read or understand a short story.

This high rate of “learning poverty” (i) – the percentage of children who cannot read and understand a simple story by age 10 – is an early warning sign that the ambitious targets of SDG 4 (i) are in jeopardy. .

Even if countries succeed in reducing their learning poverty at faster rates than in recent decades, it will not be possible to achieve the goal of “all children can read” by 2030.

Ending learning poverty is as urgent a development goal as ending hunger, wasting and extreme poverty; and to fulfill it much more decisive measures are needed from all the actors. The World Bank is concentrating its support on basic education to promote actions that end learning poverty, so that all children are competent and confident readers by the end of primary school.

Commitment

The World Bank Group is the leading funder of education in the developing world (PDF). In fiscal 2019, it provided approximately $ 3 billion for educational programs, technical assistance, and other projects designed to enhance learning and give everyone the opportunity to receive the education they need to thrive. The current portfolio of education projects stands at $ 16 billion, underscoring the importance of education in achieving the corporate goals of ending extreme poverty and boosting shared prosperity.