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Islamic Development Bank pledges $200m for education campaign

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The Jeddah-based Islamic Development Bank (IsDB) has pledged $200 million to the 2021-2025 Raise Your Hand financing campaign of the Global Partnership for Education (GPE). GPE is a partnership and funding platform that aims to strengthen education systems in lower-income countries and increase the number of children in school and learning. 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 toward education in 90 lower-income countries and territories. IsDB has pledged $200 million in concessional loans to boost lower-income countries’ access to finance for education, representing half the total sought from the Arab Coordination Group of Arab financial development institutions.