Islamic Development Bank and Dubai Cares pledge $202.5m for education in lower-income countries

SourceThe National
SectorFinancial Services

The Islamic Development Bank and Dubai Cares collectively pledged more than $200 million to the Global Partnership for Education, the UN-backed fund working to transform learning systems for children in lower-income countries. The commitments are the first from the Middle East region towards GPE’s ‘Raise Your Hand’ replenishment campaign that seeks at least $5 billion from donors to support education in some 90 countries and territories. The IsDB, headquartered in Jeddah, contributed $200m in concessional loans, while Dubai Cares, the UAE-based global philanthropic organisation, gave $2.5m, doubling previous pledges it made in 2014 and 2018. "Supporting GPE's efforts in a sustainable way through more...