Education Above All Commits $100 Million to Boost Education Projects in Asia

Funding | Dec 08, 2024 | Asian Development Bank

Education Above All Commits $100 Million to Boost Education Projects in Asia

The Asian Development Bank (ADB) and the Education Above All Foundation (EAA) announce a continuation and expansion of their partnership with a $100 million grant from EAA, supported by the Qatar Fund for Development, to cofinance projects focused on improving education access and integrating climate change concepts in Asia and the Pacific. This agreement extends an existing collaboration since 2020, aiming to enroll and retain out-of-school children, support tertiary education for disadvantaged youth, and integrate green skill development into educational programs. With a combined target of $250 million in investments, though $150 million in loans from ADB, this initiative seeks to address barriers including poverty and discrimination while aligning with sustainable development goals. The partnership underscores strategic grant and loan blending to magnify impact and promises extensive support for young people to develop skills relevant to the green economy, promising a more inclusive, resilient future.

Sectors

  • Education
  • Finance
  • Non-profit/Philanthropy
  • Sustainable Development

Geography

  • Asia and the Pacific – The target region for the educational projects funded by ADB and EAA Foundation.
  • Qatar – The location of the Education Above All Foundation and the Qatar Fund for Development, which support the grant.

Industry

  • Education – The article focuses on projects in the education sector, particularly aimed at providing equitable access and integrating skills for the green economy.
  • Finance – The involvement of cofinancing and grants by Education Above All Foundation and ADB categorizes this under financial activities.
  • Non-profit/Philanthropy – Education Above All Foundation and Qatar Fund for Development are involved in philanthropic activities to improve educational access.
  • Sustainable Development – Initiatives focus on integrating climate change education and developing green skills, contributing to sustainable development goals.

Financials

  • $100 million – Grant amount provided by Education Above All Foundation for cofinancing educational projects with ADB.
  • $250 million – Total target investment for the educational initiatives, including a $100 million grant and $150 million in loans.

Participants

NameRoleTypeDescription
Asian Development Bank (ADB)Private EquityCompanyA regional development bank aiming to promote social and economic development in Asia and the Pacific.
Education Above All (EAA) FoundationGrant ProviderCharityA global education foundation providing financial cofinancing for educational projects.
Qatar Fund for Development (QFFD)SupporterGovernmentSupports Qatar's international development goals.
Fatima YasminSignatoryPersonVice-President for Sectors and Themes at ADB.
Mohammed Saad Al KubaisiSignatoryPersonActing Chief Executive Officer at EAA Foundation.