The World Bank Group plays a significant role in global education, acting as the largest financier of education in 85 developing countries. It supports the implementation of Sustainable Development Goal 4 (SDG4), which aims to ensure inclusive and quality education for all by 2030.
According to “Tehsil365”, citing the World Bank Group, education is a key driver in reducing poverty and promoting sustainable development. Each additional year of schooling increases an individual’s earnings by approximately 10%, playing a crucial role in economic growth, social equity, and gender equality.
However, over 250 million children around the world are out of school. In low-income countries especially, a vast majority of children lack basic reading and comprehension skills. This problem has been exacerbated by school closures during the COVID-19 pandemic and natural disasters linked to climate change.
Despite limited funding for education, the World Bank is implementing innovative projects to help countries equip learners with modern skills and knowledge. The goal is to ensure that children succeed in education from an early age, are prepared for the labor market through vocational and technical skills, and continue learning throughout their lives.
With an education portfolio of $26.5 billion, the World Bank is helping expand learning opportunities for 305 million students. Investing in education is one of the most effective ways to ensure the well-being of future generations and the sustainable development of countries.