Teachers College Columbia University and NORRAG organised two Skype-transmitted presentations and discussion on 19 December 2018 at Teachers College, introduced and moderated by Gita Steiner-Khamsi, NORRAG Director and Professor at Teachers College and the Graduate Institute, Geneva. The lectures addressed the issues related to the use of innovative finance, as a vehicle to generate additional funds for the education sector but also foster new partnerships and mechanisms to improve aid effectiveness, innovation, and quality of education.
While several proposals have been discussed on using novel financing instruments and arrangements, the sector has not witnessed widespread experimentation or adoption to date. There also exists skepticism and polarizing debates, primarily around the engagement of the private sector in financing and delivery of education as a public good.
Arushi Terway, NORRAG Senior Lead Research Associate speaking from Melbourne, Australia, discussed the history and definition of innovative financing in development, existing mechanisms and recent proposals, along with highlighting the crucial debates and challenges that are specific to education.
Marina Avelar, NORRAG Research Associate speaking from Sao Paulo, Brazil, focused on the ongoing shifts towards network governance, and the concomitant changes in philanthropy and its role in global education and impetus and use of innovative financing mechanisms.
A recording of the session is available here (if the player fails to work, please use the link to watch):