Uh oh, I am worried. Gordon Brown, a singularly incompetent UK Finance Minister and subsequently petulantly incapable Prime Minister, is endorsing SIBs.
This could be even worse for the image of the product than the involvement of Goldman Sachs…
New Ways To Finance Education
Gordon Brown, former Prime Minister and Chancellor of the Exchequer of the UK, is United Nations Special Envoy for Global Education – Project Syndicate
Norway, under the leadership of Prime Minister Erna Solberg and Foreign Minister Børge Brende, will soon host a summit on education for development with one simple aim: to bolster global cooperation on education. The hope is that the summit, which United Nations Secretary-General Ban Ki-moon will attend, will improve the world’s chances of meeting the goal, featured in the upcoming post-2015 development agenda, that every child have access to pre-primary, primary, and secondary education by 2030.
A third proposal entails the use of innovative funding mechanisms, like social-impact bonds, to frontload new education spending. Such a results-oriented approach would help to encourage business philanthropy in education, which currently amounts to only one-tenth of that in health. Similarly creative efforts could deepen the engagement of charitable foundations; as it stands, US-based foundations spend just 1% of their development resources on basic education in poor countries.