“Until spring, we should only meet in Brussels,” Peter Liese, member of the European People’s Party (EPP) group in EP, told Bild newspaper. He also raised his concern in a letter to EP President Roberta Metsola.
“Heating and lighting two building complexes at the same time in Brussels and Strasbourg is a mockery of taxpayers,” Moritz Koerner of the liberal Renew Europe group said, arguing that the Strasbourg offices should be sent into an “energetic hibernation immediately.”
Although Strasbourg is the EP’s official seat, its committees and political groups meet in Brussels. Only 12 four-day plenary sessions are held in Strasbourg each year.
The European Commission is currently discussing binding requirements for member states to save energy. “There is a global scarcity of energy. So, whatever we do, one thing is for sure: We have to save electricity,” Commission President Ursula von der Leyen said last month.
In view of the energy crisis, the EU has just decided that benefiting energy companies will have to pass on part of their surplus profits in the future. This is intended to curb electricity price increases. “We have agreed on good and effective instruments to curb the rise in electricity prices,” Germany’s Minister for Economic Affairs Robert Habeck said last week.
“Hopefully, the current crisis will lead to a rethink,” the General Secretary of the Taxpayers Association of Europe, Michael Jaeger, told Bild. The commute between Brussels and Strasbourg is a “traveling circus” and “an ecological and economic disaster.”
The top 10 finalists include Mr. Flavien Kouatcha Simo, Managing Partner of Save Our Agriculture Sarl (Cameroon); Ms. Amena Elsaie, Co-Founder of Helm Consulting (Egypt); Ms. Nadia Gamal El Din, Founder and CEO of Rahet Bally (Egypt); Mr. Amadou Daffe, CEO and Co-Founder of Gebeya Inc. (Ethiopia) and Mr. Prince Agbata, Co-Founder and CEO of Coliba Waste Management Services Limited (Ghana).
Others include Mr. Tesh Mbaabu, Co-Founder and CEO of Marketforce Technologies (Kenya); Rwandan Francine Munyaneza, Founder of Munyax Eco; Ms. Shona Mcdonald, Founder and Executive Director of Shonaquip Social Enterprise (South Africa); Ms. Elmarie Pereira, Chief Operations Executive, Co-Founder & Acting CEO of Memeza Shout (PTY) Ltd (South Africa) and Tanzanian Mr. Elia Timotheo, Founder and CEO of East Africa Fruits Co.
The result was announced at a Gala Dinner on October 1 to an audience of around 100 attendees from all over the African continent, consisting of current and past ABH participants, judges, investors and other key stakeholders in Africa’s entrepreneurial landscape.
These top 10 finalists will take the stage at the competition’s grand finale in November 2022 for their final pitch to win a share of a US$1.5 million prize pool. The winner of the first prize will walk home with a US$300,000 grant to fuel their further business growth.
The 10 entrepreneurs were selected through multiple stages of interviews and evaluation from over 21,000 applications across all 54 African nations. They hail from eight African countries including Cameron, Egypt, Ethiopia, Ghana, Kenya, Rwanda, South Africa and Tanzania. Their start-ups have been drawn from a wide variety of industries including agriculture, consulting, energy, environmental protection, healthcare, information & communication technology (ICT), and retail.
These outstanding entrepreneurs share a common trait of having a deep commitment to creating a positive impact on their communities, such as empowering disadvantaged groups, increasing access to digital commerce for businesses in Africa and leveraging technology to improve agricultural efficiency for small-holder farmers.
“ABH remains steadfast in its efforts to identify, support and shine a spotlight on African entrepreneurs that are driving positive growth for their communities. Now in the fourth year of the ABH competition, we are impressed with the increasing diversity of our participants and the impact they are making especially in supporting post-pandemic economic recovery. These top 10 finalists are sources of inspiration for other entrepreneurs in Africa,” says Jason Pau, Executive Director of International Programs, Jack Ma Foundation. “We wish all of them the very best of luck for the final pitch in November.”
“Entrepreneurship is a huge driver for social and economic development in Africa. The ABH Prize Competition provides a platform for outstanding start-ups to showcase targeted solutions that tackle problems in an impactful, competitive, sustainable and value-adding way. This year’s Heroes – as with other years – continued to demonstrate the resilience, passion, imagination, and traction that we need in our entrepreneurs here in Africa,” says Birame Sock, Founder and Chief Executive Officer of Kwely Inc, one of the judges in the semi-finale round.
Along with the unveiling of the top 10 finalists in this year’s competition, ABH has also announced its launch of a local team in Kigali to better serve and engage its growing African entrepreneur community of over 100,000 members.
“As ABH enters its fourth year, we are humbled by the incredible support from African entrepreneurs and key stakeholders which has made it possible for our ABH community to reach its current scale,” says Zahra Baitie-Boateng, Head of Partnerships & Programs at Africa’s Business Heroes Prize Competition.
“Now with our base in Kigali, a city brimming with vitality and innovation, we are closer than ever to the African entrepreneurs that we serve and better positioned to help create a cohesive local start-up community leveraging our global network and experience. We are particularly excited to be based at Norrsken House, which is home to a vibrant ecosystem of incubators, accelerators and start-ups. We believe being a part of Norrsken will help strengthen our efforts to collaborate with key stakeholders in Africa’s entrepreneurial ecosystem.”
The ABH Prize Competition aims to identify, support and empower entrepreneurial talent from across Africa. The official competition slogan “It’s African Time” is a bold call to action to all African entrepreneurs who are challenging stereotypes associated with “African time” – creating local impact and building a better, more inclusive future through their businesses.
{{About Africa’s Business Heroes}}
The Africa’s Business Heroes Prize Competition is a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy. It aims to support and inspire the next generation of African entrepreneurs across all sectors who are building a more sustainable and inclusive economy for the future of the continent.
Over a 10-year period, ABH will recognize 100 African entrepreneurs and commit to allocating grant funding, training programs, and support for the development of an entrepreneurial ecosystem.
Each year, the ABH Prize Competition and show feature 10 finalists as they pitch their business to win a share of US$1.5 million in grant money.
Jack Ma, founder of Alibaba Group and the Jack Ma Foundation, created the prize after he made his first trip to Africa in 2017 and was inspired by the energy and entrepreneurial potential of the young people he met with there.
{{Profile of top ten finalists}}
{{Flavien Kouatcha Simo, Managing Partner of Save Our Agriculture Sarl }}
{ {{Industry: Agriculture}} }
Kouatcha, a Cameroonian engineer by training, runs an agricultural company that designs and manufactures aquaponic units for individuals and professionals wishing to produce large-volume organic food as close as possible to sales areas.
Their system is a solution to climate change, the land challenge of young African farmers, and the increased use of agricultural chemicals.
{{Amena Elsaie, Co-Founder of Helm Consulting}}
{ {{Industry: Consulting}} }
Amena is a multiple award-winning entrepreneur. Created in 2014, Helm supports more than 4,000 persons with disabilities and promotes their social inclusion, serving more than 200 entities and working with top-notch experts from 16 countries.
In addition to sponsorships and grants, Helm is the first provider of localized and customized inclusion solutions in the region, awarded multiple times as innovative global best practices and successful business models by Zero project, JICA and Rise Egypt among others.
{{Nadia Gamal El Din, Founder and CEO of Rahet Bally}}
{ {{Industry: Healthcare}} }
Gamal studied finance at the American University in Cairo, after which she started her professional career as an assistant brand manager at Procter & Gamble.
She became a mother at the age of 24 and realized there was a huge market gap when it comes to supporting new moms. Consequently, in 2015, she founded Rahet Bally, an all-inclusive platform to support Egyptian mothers financially, physically, emotionally and intellectually, both online and in person, on top of Rahet Bally Discount App for Moms, Rahet Bally Mama Fitness Programs, the Cloud by Rahet Bally, and Mumerz.com.
{{Amadou Daffe, CEO and Co-Founder of Gebeya Inc.}}
{ {{Industry: ICT}} }
Gebeya.com is a Pan-African freelance talent marketplace that identifies the best of African talent and matches them with cutting-edge projects from selective customers with a goal of solving one of Africa’s biggest challenges: employment.
Their tech-driven marketplace connects remote African tech talent with employers globally. The continent needs to generate 12 million new jobs every year to keep unemployment at bay. Start-ups, SMBs and corporations in industries like telecommunications and transportation rely on Gebeya to be a one-stop shop for talent capable of building new products and services to scale up their businesses.
{{Prince Agbata, Co-Founder and CEO of Coliba Waste Management Services Limited}}
{ {{Industry: Environmental Protection}} }
Coliba is an award-winning and leading Ghanaian plastic waste recycling company operating in Ghana and Côte d’Ivoire. Prince co-founded Coliba to address the issue of plastic pollution and to promote environmental sustainability.
Plastic waste is a serious problem in West Africa, and Prince decided to tackle this issue after losing his best friend in a flood disaster caused by plastic pollution. Coliba collects, sorts and recycles plastic and metal garbage. This initiative employs over 110 workers.
{{Tesh Mbaabu, Co-Founder and CEO of Marketforce Technologies}}
Industry: Retail
Tesh is an African serial technology entrepreneur who lives to blend commerce and technology. MarketForce is a B2B commerce platform that empowers over 200,000 neighbourhood merchants across five African markets to source, order and pay for inventory, access financing and earn more by reselling financial services in their communities.
{{Francine Munyaneza, Founder of Munyax Eco }}
{{Industry: Energy}}
Growing up as a refugee, Francine had no access to electricity. She founded Munyax Eco to solve Africa’s recurring problem – lack of access to electricity – and Rwanda’s energy challenges in rural and urban areas by providing solar equipment adapted and tested for the African continent.
Francine is well known for her gender-oriented recruitment and sales strategy which is to bring women into the fight against climate change while empowering them economically. To date, over 10,000 people across Rwanda, DRC and Burundi have access to clean energy, thanks to Munyax Eco’s women-led and focused solutions.
{{Shona Mcdonald, Founder and Executive Director of Shonaquip Social Enterprise}}
{ {{Industry: Healthcare}} }
Shona founded her company to address the challenges of children with mobile disabilities living in peri-urban and rural areas of South Africa. Shonaquip’s range of tailor-made mobility products and health services can be assembled and maintained even in conditions with limited resources.
Their inclusive early childhood education training, social services, advocacy and research directly impacts nearly 20,000 individuals with disabilities and their families annually.
{{Elmarie Pereira, Chief Operations Executive, Co-Founder & Acting CEO of Memeza Shout (PTY) Ltd }}
{ {{Industry: ICT}} }
Elmarie is on a mission to make South Africa safer. Memeza is an ICT social enterprise providing affordable innovative safety technology and monitoring services to lower-income communities who do not have access to private security, as well as assisting government and corporates with specialized community-based project deployment services.
To date, Memeza has created over 2,700 income opportunities for youth, and reduced GBV by 67% in low-income communities focusing on solving social ills.
{{Elia Timotheo, Founder and CEO of East Africa Fruits Co.}}
{ {{Industry: Agriculture}} }
Elia has grown East Africa Fruits Co into the largest food distributor or aggregator in Tanzania by modernizing systems never implemented in East Africa before.
By distributing fresh produce directly from farms to Business to Business (B2B) customers, they ensure no brokerages and less waste.
The software resolves market inefficiencies by pairing crops with market demand, boosting efficiency, and yielding 60% more earnings for farmers as they tackle Africa’s 4-billion-dollar problem of post-harvest food wastage.
Five Chinese players hit double digits in scoring, led by Li Meng’s 23 points. Huang Sijing helped with 18.
The last time China reached the same stage was in 1994, when they finished runners-up at the formerly known FIBA World Championship for Women.
China has lost each of their previous three quarterfinal games at the quadrennial tournament, in 2002, 2014 and 2018, while showing its determination to shatter this unfriendly record from the start in Thursday’s game.
After athletic Gabby Williams helped France race to a 12-6 lead, China responded with an 18-3 surge to turn the tides, with Li Meng contributing 12 points down the stretch. France scored five late points, including Mamignan Toure’s buzzer-beating 3-pointer, to tie the first quarter at 25-25.
But China kept imposing pressure on opponents in the second quarter with six points in a row en route to a 50-39 halftime margin.
France rode on a 12-2 scoring run to trim the deficit to one point midway through the third quarter, but China steadied themselves through Han Xu’s three-point play and Li Yuan continued her scoring output after coming off the bench, helping China lead 66-58 heading into the final frame.
Han continued to be unstoppable in the paint in the last period, and China effectively sealed their victory as Huang buried a 3-pointer with 1:26 to play.
China will vie for a final berth on Friday against either hosts Australia or Belgium, who will go head-to-head later on Thursday.
“To date, 138.7 million tons of grain have already been threshed. This is approximately a third more than (that) during the same period last year,” the Kremlin reported on Tuesday, citing the Russian leader at a meeting on the progress of seasonal field work.
“According to experts, the total grain harvest may reach 150 million tons,” Putin said, noting that the harvest would fully cover domestic demand and increase exports.
Putin warned that Western sanctions imposed on Russia’s grain and fertilizers pose a growing threat to global food security, adding that the West should be held accountable for the deteriorating situation.
Some 250 representatives from government, industry and academia attended this year’s event, which is themed “Innovate for a Diverse Europe.”
“At Huawei, we believe that we can lead innovation for the future through continuous investment in research and development. Innovation will be crucial to realize our sustainable future,” said Jeff Wang, president of public affairs and communications department at Huawei, in a video speech.
He added that “we look forward to working with our partners to create a smarter, greener and sustainable Europe.”
At the opening ceremony, Hungarian foreign minister Peter Szijjarto hailed Huawei’s investments in Hungary, including the company’s R&D center in Budapest and its largest European logistics center near the capital, as “a source of pride” for his country.
“Both parties benefited greatly from the strategic cooperation signed ten years ago, and the Hungarian government is ready to continue this cooperation,” he added.
During the event, the University of Public Service of Hungary signed a partnership agreement with Huawei as part of the company’s “Seeds for the Future Scholarship” program to promote information and communication technology education.
Huawei said some 1,000 students from 12 European countries have received a total of 5 million euros (4.8 million U.S. dollars) in the past two years from its scholarship program.
Huawei has also partnered with Hungary’s Ministry of Technology and Industry, the Hungarian Battery Association and Planergy Solutions on a white paper to boost the green transition in Hungary’s energy sector, the Chinese company said in a statement after the event. (1 euro = 0.96 U.S. dollar)
“This year, the output value of the village has reached 400 million yuan (about 56 million U.S. dollars), and the per capita disposable income is close to 20,000 yuan,” said Cao, of Yanglang Village, Guyuan City, northwest China’s Ningxia Hui Autonomous Region.
With some 2,600 farmers, the mountain village in Xihaigu, a region once deemed “uninhabitable,” has ushered in a bumper year, again.
The once impoverished village has transformed into a land of wealth, boasting industries such as wine-making, foundry and rural tourism.
The impressive report card is a result of decades of unremitting efforts of villagers, led by members of the Communist Party of China.
{{Strong leadership}}
Yanglang’s Party members take charge of leading the development of the pillar industries in the village. Through brand building and technological upgrading, the village Party organization has led local residents to shake off poverty and pave a road toward prosperity.
The story of Yanglang is not a unique one as such transformations, with Party cadres leading the anti-poverty campaign and promoting rural revitalization, can be seen across the country.
China has always put agriculture and rural areas high on the agenda of its economic work. As the country has eliminated absolute poverty, rural revitalization has breathed new life into China’s agriculture sector and villages.
Over the past years, millions of cadres have been dispatched to villages to help reduce poverty in a targeted approach, consolidate achievements in poverty alleviation, and advance rural revitalization in an all-around way.
Selected from Party and state organs, state-owned enterprises and public institutions, the cadres are required to contribute to the development of rural industries to help villagers increase their income and promote high-quality agricultural and rural development. They are also tasked with strengthening rural Party organizations, improving rural governance and providing better services to villagers.
{{Pairing-up assistance }}
Over the past five years, more than 3,000 on-the-job cadres and other personnel from Shanghai have been sent to southwest China’s Yunnan Province, bringing funds, advanced concepts and technologies to the less-developed areas. In the meantime, over 3,000 cadres and others in Yunnan have also traveled to the east China metropolis for self-improvement.
This is part of China’s “pairing-up” approach, which pairs less-developed western regions with wealthier eastern areas that provide dedicated support in terms of capital, technology, personnel and other resources to fight poverty and boost development.
In Lanping Bai and Pumi Autonomous County, Yunnan, advanced computer-controlled cultivation systems have spurred local fruit farming development.
At present, there are 3,200 mu (about 213 hectares) of strawberries and 3,450 mu of cherries in an industrial park in Lanping.
“The selling price of our blueberries even exceeds that of imported ones,” said a park staffer, adding that the industrial park earned an operating income of more than 20 million yuan last year, and the output of blueberries reached 300 tonnes this year, and is expected to more than double next year.
Thanks to the assistance from east China’s coastal Fujian Province, once poverty-stricken villages deep in the barren mountains of Ningxia have seen a sea change over the past decades.
By the end of 2020, Fujian had invested about 3.37 billion yuan in over 4,000 projects in Ningxia.
{{Thriving industries}}
Thriving industries are the foundation for rural revitalization and sustainable development in rural areas.
Over the past years, China has strived to empower rural revitalization with the development of specialized industries.
Niejiazhuang Village in Jiangzhuang Township of Gaomi City, east China’s Shandong Province, is a cradle of clay sculpture, a form of national intangible cultural heritage.
Yet for a certain period, like many cultural heritages, the traditional handicraft was staring at a gloomy future with sluggish sales and few new practitioners.
To revive the industry and help locals cash in on their handicrafts, local authorities made concerted efforts to improve logistics, technology, management, promotion and sales.
Today, over 5,000 people in Jiangzhuang Township are engaged in the research, design and production of intangible cultural heritage-related products. Over 400,000 mud tigers, a signature clay product there, are made every year, with the total annual sales revenue exceeding 10 million yuan.
Rural industries have seen steady development and expanded the channels for farmers to increase their employment and income. The per capita disposable income of rural residents rose 4.2 percent in real terms to 9,787 yuan in the first half of this year, according to the Ministry of Agriculture and Rural Affairs.
The rural industrial system will be improved to create more job opportunities and generate a greater share of profits for farmers, according to government plans.
Wang said that as a permanent member of the UN Security Council, China is open to dialogue and exchanges with NATO, and is willing to jointly promote the sound and steady development of bilateral relations.
The two sides should enhance communication and mutual understanding on the basis of frankness and mutual respect, and prevent misunderstanding and false information, he said.
Stoltenberg said that China plays an important role in global issues with its growing economy and influence.
Noting that NATO does not regard China as a rival, he said the organization attaches importance to maintaining and strengthening engagements with China and has a positive attitude towards developing relations with China.
Stoltenberg said NATO will stay committed to its original geographical location when it was established, and expected to explore cooperation with China in arms control, climate change and other fields so as to better cope with global challenges.
NATO and its member countries follow the one-China policy and remain unchanged in their position on the Taiwan question, he said, adding that he expected China to play an important role in ending the conflict in Europe.
Wang expressed hope that NATO will handle the current international situation objectively and calmly, instead of simply drawing a dividing line based on “political correctness.”
On the issue of peace and security, he said China is a major country with the best record. China has no genes for external expansion, and has never invaded other countries, engaged in proxy war, sought spheres of influence, exported ideology, interfered in other countries’ internal affairs, or participated in military blocs.
China has decided to follow a path of peaceful development, which is enshrined in law, Wang said, adding that he hoped NATO will establish a rational and correct understanding of China.
China is willing to carry out necessary cooperation with NATO on global issues and contribute to peace and stability, he said.
Wang also clarified China’s consistent position on the Ukraine issue and its constructive role in promoting peace talks. He said it is necessary to explore the establishment of a balanced, effective and sustainable European security framework to ensure long-term stability in Europe.
Under this program, a total of 11 students from Japan joined their colleagues in Rwanda since August, 15 this year for an exchange program that was initiated through the support of NPO Think About Education in Rwanda.
The latter is a non-government organization founded in Japan, by a Rwandese lady who was committed to improve child education and health in Rwanda after the 1994 Genocide against the Tutsi.
Throughout this month-long program which came to an end during a ceremony held recently on 16th September, the students visited different district and referral hospitals, health centers and community health workers to learn about health systems in Rwanda and other institutions to know more about Rwanda.
Dr. Olive Bazirete, the Dean of Faculty of Nursing and Midwifery at UR, said that the main reason behind this program is to develop a global partnership in healthcare systems.
“We are grateful to this partnership and we are looking forward to continued collaboration and development of more projects. This should not only be considered in the context of having this student exchange program, but also we can have the faculty of Josai coming to Rwanda and UR going to Japan,” she said.
“We have learnt a lot of things. What impressed us most is the medical system which is different from Japan including the small number of hospitalization days and the use of drones to transport blood from the transfusion centers,” said Ms. Megumi Uchida, one of students from JIU.
“I also got to know a lot from some initiatives that I would like to see introduced in Japan such as enabling hospitals to provide counseling and provide protection to victims of domestic violence,” she added.
The summer exchange provided the opportunity to interact not only with students but also with people of all ages and to deepen their ideas about lifestyles, societies and education.
It has been an opportunity for JIU and UR students to deepen their understanding of the health sector, culture and to reflect and share as future leaders.
JIU nursing students also visited the Kigali Genocide Memorial to learn about Rwanda history.
Innocent Twizerimana, a UR student said that such summer exchange is very important, however much expensive it is.
“For it to be a full exchange, people should come to Rwanda and vice versa,” he noted.
Twizerimana said that UR students also learnt a lot about the Japanese health system.
“The Japanese government encourages people to get fully vaccinated to develop resistance against pandemics. We found that it could help our country to improve the current vaccination system. Another thing we learned is the way Josai University puts a lot of effort in research to develop resilience against shocks in the health sector,” he revealed.
The president and founder of NPO Think About Education in Rwanda, Mrs. Towari Marie Louise, urged the participants of the summer exchange platform to build on the connection they have created.
“Don’t leave the connection here, please bring them back and you Rwandese, please keep them. If you don’t keep the connection, it’s going to disappear but if you continue connecting, I believe something good will happen,” she said.
“As you have visited many places, remember that you met someone, remember to connect and keep the telephone number in your mind. It’s not by accident, it’s for a purpose we meet. See the millions and millions of people living in the world but we are here together. This is a miracle. Let’s build on it and provide another good future for a new generation coming after us,” added Towari.
{{About JIU}}
JIU was founded in 1992 by the Josai University Corporation in the city of Togane, Chiba Prefecture, about 90 minutes from downtown Tokyo. Josai University Corporation was established in 1965 by Mikio Mizuta who was Minister of Finance for a total of twelve years starting in 1960. The university offers a four-year undergraduate program as well as a graduate program. There are undergraduate schools or faculties: Faculty of Management and Information Sciences; Faculty of International Humanities; Faculty of Media Studies; Faculty of Social Work Studies; Faculty of Tourism;Faculty of Pharmaceutical Sciences; Faculty of Nursing.
There are four graduate schools; Graduate School of Humanities; Graduate School of Management and Information Sciences; Graduate School of Social Studies; and Graduate School of Business Design. Graduate School of Pharmaceutical Sciences; Graduate School of International Administration.At present, the university has over 6,000 students, including the undergraduate student body and the graduate program. Many of the students come from various foreign countries.
{{About UR}}
The University of Rwanda is Rwanda’s largest higher education institution. The University of Rwanda was formed in 2013 through the merger of previously independent public institutions of higher education, the largest of which was the National University of Rwanda.
Initial work to establish the institution was undertaken by Professor Paul Davenport, a member of Paul Kagame’s Presidential Advisory Council, who now acts as chair of the university’s board of governors. The University of Rwanda was established in September 2013 by a law that repealed the laws establishing the National University of Rwanda and the country’s other public higher education institutes, creating the UR in their place.
At the time of its creation, education officials reported that they “hoped that the university will improve the quality of education and effectively respond to current national and global needs”
With the first projects expected in 2023, IFFEd will support education and skills development investments in lower-middle-income countries. With an initial funding of 2 billion U.S. dollars, the facility is expected to expand to 10 billion dollars by 2030.
Since the COVID-19 pandemic began, two-thirds of countries have cut their education budgets, but education is the building block of peaceful, prosperous, stable societies, said Guterres at a joint press conference with Brown. “Reducing investment virtually guarantees more serious crises further down the line. We need to get more, not less, money into education systems.”
Wealthy countries can increase funding from domestic sources, but many developing countries are being hit by the cost-of-living crisis, and urgently need support for education, Guterres said, adding that this is exactly the role of the IFFEd.
This facility is aimed at getting financing to lower-middle-income countries — home to half of the world’s children and youth — and to the majority of the world’s displaced and refugee children, he noted.
IFFEd is not a new fund, but a mechanism to increase the resources available to multilateral banks to provide low-cost education finance. It will complement and work alongside existing tools that provide grants and other assistance, said Guterres, urging all international donors and philanthropic organizations to back IFFEd.
Brown said IFFEd is to deal with a crisis when 260 million school-age children do not go to school, 400 million children at the age of 11 are not able to read or write and leave education for good, and 840 million children and young people, by the time they leave education in their teens, have no qualifications for the workplace of the future.
“Over time, we expect the fund to grow from the two billion (dollars) that it will be initially, to five billion and then to 10 billion. This means that today we’re announcing the biggest-ever single investment in global education that the world has seen, and we believe it can transform the prospects of millions of children,” he said.
