RIYADH: Investments in the education sector of lower-income countries will receive a boost as Saudi Arabia officially joins the Global Partnership for Education with a $38 million contribution.
Speaking to Arab News on the sidelines of the Human Capability Initiative in Riyadh, Laura Frigenti, the fund’s CEO, outlined that the contribution will be utilized for the body’s mission of transforming the education sector in underdeveloped countries and preparing young generations for the modern job market.
The Global Partnership for Education is the largest fund exclusively dedicated to improving the education sector’s performance in low-income and middle-income countries.
It was created “about 22 years ago,” the CEO outlined, adding that “between our own funds and the funds that we have leveraged,” the body has invested about $11 billion in education globally.
She said: “We are operating in about 90 countries, all the low-income and most of the middle-income countries, including countries that are in a very fragile condition. And we provide both technical assistance as well as financing, to help the government really bring back on track the performance of the education sector.”
She added: “I can tell you, that GPE is very, very active in countries that are of strategic interest to the Kingdom of Saudi Arabia. I’m thinking about Yemen and thinking about the countries in the Middle East, Jordan, Lebanon, I’m thinking about Egypt, Sudan, etc.”
Fringeti commended the Saudi government’s emphasis on the sector and its understanding of the integral role that education plays in diversifying the economy.
She highlighted that the Kingdom is paving the way for its “very young” population that will require the right skills in order to adapt to a fast-changing labor market.
Around the world, including in the Middle East and North Africa region, countries are confronting a mismatch between youth skills and labor market needs that risks leaving millions of youths—particularly young women—underprepared for tomorrow’s jobs, a release by the body said.
Youth unemployment across Arab states is around 25 percent, while unemployment for young women has reached 40 percent.
With this new partnership, GPE and Saudi Arabia have committed to working hand in hand to increase investment in education as a powerful force to spur growth in the region and beyond, giving children the skills they need to grow and flourish, a release by the body noted.
The CEO further outlined enthusiasm toward the Kingdom “finally” joining the partnership due to the fact that Saudi Arabia serves as an example that can be utilized as a model for nations globally, saying: “This is one of the reasons why I am so excited about Saudi finally, officially joining the partnership, because there is a lot of the experiences that have been made here that can actually be relevant for other countries, and I’m very excited about the fact that the Saudi being part of the partnership will actually be able to tell their story to the world.”
She concluded: “Saudi is a little bit of a unique case in a sense that it is a country that doesn’t lack resources. So this massive investment may not be replicated at the same scale in other parts of the world. But I think the focus, the understanding of the connection and the trajectory that the government has put in place here is definitely something that will be very relevant to many.”
