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Financing Education

Financing Education. The World Bank Latin America and the Caribbean Region 23 July 2003. Outline. Lending Challenges/strategies Future approach. Volume of World Bank LAC Specific Education Lending. FY97-FY03. Specific Education Lending FY03: U$ 432 million.

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Financing Education

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  1. Financing Education The World Bank Latin America and the Caribbean Region 23 July 2003

  2. Outline • Lending • Challenges/strategies • Future approach

  3. Volume of World Bank LAC Specific Education Lending FY97-FY03 Specific Education Lending FY03: U$ 432 million

  4. Volume of Total World Bank LACEducation Lending 1,200 1,000 800 millions of U$ 600 400 200 0 1997 1998 1999 2000 2001 2002 2003 Specific Adjustment Total Education Lending FY03: U$ 772 million

  5. Specific and Adjustment Education Lending for LACFY02-FY03 Total Education Lending FY02: U$ 710 million Total Education Lending FY03: U$ 772 million

  6. Education Lending for LAC as a % of total WB education lending

  7. Evolution of LAC Education Lending by Sub-Sector, FY91-FY03

  8. Total World Bank Lending Volume and Composition FY02 Total WB Lending for FY02: U$ 19.5 billion

  9. LAC Lending Volume and Composition FY02 Total LAC Lending for FY02: U$ 4.4 billion

  10. Challenges • Basic education –reaching last “10%” • Secondary • Quality • Post-secondary/lifelong learning • Research and innovation

  11. Basic Education Education For All - Fast Track Initiative • Four LAC countries selected: Honduras, Nicaragua, Bolivia, Guyana • Mainly IDA countries where completion will not be achieved without support

  12. Secondary enrollment in LAC – below world averages

  13. But quality is poor...Outcomes uncorrelated with income

  14. Lifelong Learning/Post - Secondary Chile • Reduce deficit of adults without complete basic or secondary education • Provision of adult education • Improve skill & productivity of labor force • Improve international competitiveness • Develop new modalities articulating adult education and training for workers in small and medium size enterprises

  15. Innovative Delivery • Utilizing the private sector • Demand-side finance • Student finance (higher education student loans) • Lifelong learning

  16. Utilizing the Private Sector • Trinidad & Tobago: Public-private partnerships in child care • Colombia: Private school vouchers for poor • Links between universities and private sector (Chile, Mexico, Brazil)

  17. Student Finance Colombia Higher Education Project • Redesign and expand student loan scheme • Enable needy but qualified students to attend • 100,000 beneficiaries (9% of total students) Mexico Higher Education Financing Project • Improve, expand student loans in Sonora • Develop private sector student loan scheme • Improve access to higher education

  18. Future • Service delivery Basic Quality Governance • Knowledge economy Secondary education Sustainable higher education Lifelong learning

  19. Market has strengths and weaknesses Government has strengths and weaknesses Draw on strengths of both market and government Minimize weaknesses of both Context-specific Moving Forward

  20. Financing and Provision of Education

  21. Messages • Investigate the market for education • Demand and supply • Separate finance and provision • Role of private, NGO sector • New roles for: • government, students, families, communities

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