Islamic Development Bank and Dubai Cares commit $202.5 mln to Global Partnership for Education

SourceSalaam Gateway
SectorFinancial Services

JEDDAH, 6 April 2021 – The Islamic Development Bank and Dubai Cares, part of Mohammed Bin Rashid Al Maktoum Global Initiatives, today committed $202.5 million towards GPE’s 2021-2025 “Raise Your Hand” financing campaign, with the Islamic Development Bank pledging $200 million and Dubai Cares contributing $2.5 million. The pledges – the first from the Middle East region – use innovative financing approaches to help transform education in lower-income countries. The announcement was made at the Middle East launch of GPE’s Case for Investment, which calls on global leaders to pledge at least $5 billion towards education in 90 lower-income countries and territories. COVID-19 has hit vulnerable children in these countries especially hard, creating the biggest education emergency in recent history. With a $2.5 million pledge, Dubai Cares has doubled its previous contributions to GPE in 2014 and 2018. Dubai Cares was the first non-government and philanthropic organization to ever contribute funding to GPE. Now, as the first philanthropic organization to more...