GPE’s 2024 annual report shares how the partnership is boosting investment in education and incentivizing more efficient spending, fueling system transformation in partner countries.
In 2024, GPE’s dynamic approach in adapting both to country needs and a volatile funding environment continued to deliver growing value for education in lower-income countries through innovative financing and effective partnerships.
The 2024 GPE Annual Report shares how the partnership is boosting investment in education and incentivizing more efficient spending, fueling system transformation as partner countries confront economic pressures, climate change and the costs of ensuring that all children can learn.
Leveraging financing to turn country ambitions into reality
In 2024, GPE tripled grant approvals over the previous year and mobilized a record amount of additional resources from philanthropy, the private sector and development banks that would not have been invested in education otherwise.
GPE financing also supported governments to target interventions for the most vulnerable children and to address barriers to education, including those tied to gender inequalities, climate change impacts, children’s disability status or poverty.
Improving education spending
Maximizing investment and curbing associated costs are crucial goals given that education spending only rose by 1.8% a year in real terms between 2010 and 2022 in lower-income countries.
GPE offers incentives to partner countries to boost the efficiency of education spending and ensure that it succeeds in getting to where it’s most needed.
One way GPE incentivizes better spending is through results-based financing options or ‘top-ups’ through which countries access a portion of their total funding if certain conditions are met.
Nearly 80% of countries that have chosen to leverage GPE results-based financing have tied this to policy shifts on domestic financing, as in Sierra Leone.
Innovative financing drives innovative partnerships
GPE has pioneered financing options and tools to generate additional, efficient and equitable education financing. These tools catalyze more funds, bring in new partners, and transform debt or debt repayment into investments in education.
Partner countries used the GPE Multiplier to secure an additional $1.5 billion in cofinancing from 38 partners in 21 countries in 2024, bringing the total amount mobilized to $3.8 billion from 64 partners across 49 countries since 2021. This is more than double the original target set for the Multiplier for 2024.
In June 2024, the GPE Board approved an increase in the funds available for the Multiplier by a further $42 million.
GPE plans to further expand the Multiplier to satisfy the strong demand from partner countries and its attractiveness to cofinanciers. Through the Multiplier, the private sector is becoming an increasingly active supporter of education in partner countries.
- In Haiti, a $19 million GPE Multiplier grant leveraged $57 million in cofinancing from the World Food Programme, the Inter-American Development Bank and Education Above All.
- In Lesotho, private sector investors quickly aligned with the country’s education reform priorities, bringing in $2.5 million alongside a $2.5 million GPE Multiplier grant.
- In Viet Nam, to improve early education for children from ethnic minorities and children with disabilities, a $2.6 million Multiplier grant leveraged $2.6 million from the Nippon Foundation.
Innovative financing to support more girls
The Girls’ Education Accelerator is supporting opportunities for girls to thrive in countries where they face the greatest disadvantages. So far, 15 out of 30 partner countries eligible for the Accelerator have secured a total of $225 million to advance girls’ education, which will benefit 3.6 million girls.
In June 2024, the GPE Board approved an additional $45.4 million for the Accelerator in response to strong partner country demand to invest in girls’ education.
Having mobilized $179.5 million in contributions from Germany, the LEGO Foundation, Ireland, Denmark, Belgium, the Harry Hole Foundation, Dubai Cares, Open Society Foundations and the GPE Match, the Accelerator shows the value of combining private sector investment with GPE and public funding to target education priorities.
- In the Central African Republic, Accelerator funds will support girls’ transition from primary to lower-secondary school through school grants, providing hygiene kits and scaling up a community-based approach to keep girls in school.
- In Zimbabwe, Accelerator funds managed by the Campaign for Female Education (CAMFED) are supporting girls to complete 12 years of education and providing mentoring on post-school opportunities.
More financing for greater impact
GPE has made strides in efficiency and responsiveness, with record grant approvals and disbursements this past year reflecting the gains of constant improvement.
By leveraging its resources to crowd in capital to fund countries’ education goals, GPE achieves impact that goes far beyond the direct funds it invests.
This year, GPE is seeking investments to replenish the GPE Fund so it can continue to provide innovative, flexible and impactful financing.
Donors can be confident they will be creating better, more equitable learning opportunities by ensuring partner countries have the resources to match their ambitions.