Categories: Scholarships

Education sector needs funding from OECD to achieve SDG4 goals

India on Thursday asked the member countries of the Organisation for Economic Cooperation and Development (OECD) to fulfil their commitment to enhance funding in education sector to improve the quality of education and lifelong learning opportunities for all.

“OECD developed countries must fulfil their commitment. Ultimately, investing in education is investing in peace and sustainable future,” Union Human Resource Development Minister Prakash Javadekar said while addressing the 39th General Conference of the UNESCO.

Quoting the findings of the latest ‘Global Education Monitoring Report’ which pointed out that ‘at the global level, international commitments to finance the education sector, remains weak,’, he said that funding was vital to implement ‘Sustainable Development Goal 4 (SDG4) Education 2030’ and associated targets.

Sustainable Development Goal 4 aims to “ensure inclusive and equitable quality education and promote lifelong learning opportunities for all”.

Javadekar said India acknowledged that accountability in financing of education was critical to achieve SDG4 and associated targets and called for accountability on the part of both the “development partners” and the “individual countries”.

“India recognises that accountability in financing of education is critical to achieve SDG4 and associated targets. It involves accountability in financing of education on the part of both the development partners and individual countries,” he said, adding, “Accountability on the part of development partners relates to the commitment to enhance funding that is needed to implement SDG4-Education 2030 agenda.”

Stressing that the SDG4-Education 2030 agenda requires increased, well-targeted financing and effective and efficient utilisation of allocated funds, he said India was investing nearly 4.5 per cent of the GDP on education, despite competing demands on resources.

“The Government of India recognises that achieving the education development goals and targets set in the context of SDG4-Education 2030 agenda requires increased and well-targeted financing and effective and efficient utilisation of allocated funds and the Government of India is investing nearly 4.5 % of GDP on education, despite competing demands on resources,” he said.

There has been a broad consensus that investment in education be gradually increased to reach a level of six per cent of the Gross Domestic Product (GDP), the minister said.

“Efforts are being made to step up the outlay on education by facilitating substantial increase in both public and private sector investment in education,” he added.

Organisation for Economic Cooperation and Development (OECD) is an intergovernmental economic organisation with 35 member countries, most of them regarded as the developed nations.

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