Governments of Latin America and the Caribbean, together with international cooperation, urge to increase investment in education

NEW YORK, September 25, 2024.- Within the framework of the 79th session of the United Nations General Assembly and the Future Summit, the governments of the Dominican Republic and Chile, together with multilateral organizations, are making an urgent call to increase funding dedicated to education in Latin America and the Caribbean.

The call to action, supported by UNICEF, UNESCO, ECLAC, the Inter-American Development Bank (IDB), the World Bank, the Development Bank of Latin America and the Caribbean (CAF), the Organization of Ibero-American States (OEI), the Latin American Campaign for the Right to Education (CLADE), and the Varkey Foundation, urges to invest now so that countries can achieve Sustainable Development Goal 4, which seeks to guarantee inclusive, equitable and quality education.

“Education is the engine of development and the key to transforming our societies. That is why, in the Dominican Republic, we are determined to make schools the center of development and public policies, where the future of our nation is forged,” said Luis Rodolfo Abinader Corona, President of the Dominican Republic. “We invite all sectors of society to join this effort. It is a commitment that we must make together to ensure that education is, in essence, the pillar of equitable and sustainable development in our region.”

For his part, Nicolás Cataldo, Minister of Education of Chile, said: “As co-chairs of the High-Level Steering Committee of SDG 4, we believe it is essential to participate in and promote instances such as these to amplify decisions taken at the global and regional level in matters of education. Reflecting on the enabling conditions for educational processes, and, above all, sustainable financing, is crucial to move from commitment to action and, thus, achieve the goals of SDG 4.”

“Latin America and the Caribbean need to invest more and better in education, and they need to do so in a sustained manner to overcome the development crisis and escape the traps of high inequality, low growth and low institutional and governance capacities in which they find themselves. Countries need to expand their fiscal space to be able to invest more and in a more sustained manner in education throughout the entire life cycle. Sufficient and sustainable investment over time must be distributed equitably and efficiently,” stressed José Manuel Salazar-Xirinachs, Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC).

In Latin America and the Caribbean, 75 percent of students in the region do not achieve basic skills in mathematics and 50 percent in reading.[1] The limited fulfilment of the right to education in the region has worsened in recent years due to prolonged crises, the impact of multiple emergencies, including the COVID-19 pandemic, and persistent inequalities.

“If you want economic success, if you want jobs, growth and investment, you have to make sure that the education system actually works. There’s no other way, right now,” said economist Jeffrey Sachs.

Although countries have made notable efforts to reach the agreed minimum funding for education, at least 4 percent of GDP and 15 percent of total public spending, the sustainability of funding remains a challenge and the region is lagging behind. Today, on average, countries in the Organization for Economic Cooperation and Development (OECD) invest per student nearly five times more than the average for Latin America and the Caribbean.[2]

For this reason, the Dominican Republic and Chile, together with the coalition of multilateral organizations, urge all governments in the region, international cooperation, civil society and the private sector to ensure the enabling conditions and adequate and sustainable financing in education, with equity and efficiency. In particular:

1. Increase public investment in education, prioritizing the allocation of resources in areas where evidence shows greater returns and for students in the most vulnerable situations.

2. Strengthen sustainable financing strategies for education, increasing resource mobilization for education through instruments such as progressive fiscal policies. In addition, complement these efforts with innovative measures such as the multiplier fund for education. Global Partnership for Education (GPE), debt swaps, mixed financing, among others.

3. Increase the proportion of official development assistance allocated to education, encouraging long-term investments in public education systems.

4. Strengthen management and information systems that allow for planning investments and monitoring the impact of funding on education, ensuring that it is sufficient, equitable, effective, efficient and transparent.

[1] M. Huepe, “The challenge of financial sustainability of education in Latin America and the Caribbean”, Project Documents (LC/TS.2024/1), Santiago, Economic Commission for Latin America and the Caribbean (ECLAC)/World Bank/Ford Foundation/United Nations Educational, Scientific and Cultural Organization (UNESCO), 2024.

[2] Ibid.