The Global Partnership for Education (GPE) and the Islamic Development Bank (IsDB) have joined the Arab Coordination Group (ACG) to commemorate ACG’s 50th anniversary, celebrating five decades of impactful development financing and unveiling fresh commitments to sustain global education funding through innovative models.
At the centre of the celebration was SmartEd, GPE’s largest innovative financing collaboration to date, which has mobilized $850 million to support country-led education reforms. The initiative blends grants with concessional resources to provide large, predictable financing for education in developing countries.
Building on SmartEd’s success, GPE announced plans to expand the model through an ambitious $5 billion financing campaign aimed at unlocking an additional $10 billion in innovative education investments.
“Quality education is a powerful driver of sustainable development; without it, there can be no lasting progress or empowerment within any community,” said H.E. Fawzi Alhunaif, Director-General and Chairman of the Board of the Arab Fund for Economic and Social Development (AFESD), speaking on behalf of ACG. “The SmartEd initiative is enabling every child to unlock their potential and thrive in an evolving world.”
GPE CEO Laura Frigenti hailed the partnership as a “trailblazer” for sustainable education financing, emphasizing that innovative collaborations are crucial to providing better learning opportunities for over 750 million children in 96 countries.
“In an increasingly constrained financing environment, SmartEd has emerged as a model for sustained, large-scale support for education,” she said.
IsDB President, Dr. Muhammad Al Jasser, reaffirmed the Bank’s commitment to SmartEd Phase II, pledging to mobilize more predictable resources for member countries to accelerate progress toward SDG4 (Quality Education).
Since 2018, GPE has raised $4.7 billion in innovative financing from over 70 global partners, with ACG institutions playing a pivotal role. SmartEd has already supported education reforms in Uzbekistan, Cameroon, Chad, Tajikistan, Nigeria, and the Kyrgyz Republic, expanding access and improving learning outcomes.
With 270 million children and youth currently out of school, two-thirds of them in GPE partner countries, stakeholders say the initiative comes at a critical time. By 2040, nearly 900 million young people across 91 GPE partner nations will enter the workforce, underscoring the need for transformative investments in education and skills development.
According to GPE, every $1 invested through its programs yields $33 in increased lifetime earnings for children in partner countries.
About ACG:
Established in 1975, the Arab Coordination Group is a strategic alliance of 10 development finance institutions that has provided over 13,000 loans to 160 countries. It is the second-largest consortium of development financiers in the world.
About GPE:
The Global Partnership for Education works with more than 90 lower-income countries to mobilize funding and strengthen education systems, ensuring every child can access quality learning.
About IsDB:
The Islamic Development Bank promotes human development and socio-economic progress in member and non-member countries through investments in education, poverty reduction, health, and governance.
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