The project “Innovative Financing for Education to Leave No One Behind”  focuses on utilising and assessing the contribution of innovation in education financing to bring in more and better financing to reach the most disadvantaged and marginalised groups. The IFE-2-Leave No One Behind project will assess the contribution of innovation in education financing to bringing in more and better financing to educate the most disadvantaged and marginalised groups over a five year period, December 2021 -December 2026. In partnership with the The Graduate Institute of International and Development Studies, also known as the Geneva Graduate Institute and the Tata Institute of Social Sciences – Center of Excellence in Teacher Education (TISS-CETE), in Mumbai, NORRAG is conducting mixed-method impact research on if and how Innovative Financing mechanisms, arrangements, and programme elements are likely to produce educational benefits for marginalised and vulnerable student populations. 

The project will focus on Innovative Financing initiatives implemented by UBS Optimus Foundation and Volta Capital in Ghana, India, Kenya, Rwanda, Sierra Leone, South Africa, Tanzania, and Uganda– Lending for Education in Africa, Impact Bond Innovation Fund, Quality Education India Development Impact Bond and two additional upcoming initiatives. The project is co-funded by the TRANSFORM research initiative of the Swiss Agency for Development and Cooperation (SDC) and the five research and implementation partners.

Innovative financing approaches have gained popularity in the last decade as options for raising additional funds and/or improving the efficiency and effectiveness of existing development funds. However, little research has been conducted to determine if and how innovation in financing itself has contributed to achieving Sustainable Development Goal 4 (SDG 4), notably in improving inclusive and equitable quality education. The IFE-2-Leave No One Behind project aims to contribute evidence to address this knowledge gap.

Project duration: December 2021 – December 2026

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