SEVILLE – The Inter-American Development Bank (IDB) and Education Above All (EAA) Foundation signed a new agreement to strengthen collaboration and explore new areas of joint work in education, skills development, and economic empowerment, including employment and self-employment initiatives.
The framework agreement, which will run from 2025 to 2030, will address critical educational challenges in Latin America and the Caribbean by enrolling and retaining out-of-school and at-risk-of-dropping-out children, ensuring their access to quality primary education. The EAA Foundation plans to earmark up to $40 million in grants while the IDB aims to allocate $60 million in loans over the next five years to finance projects.
"We’re pleased to renew our partnership with Education Above All Foundation to advance our shared goal of promoting children’s education in Latin America and the Caribbean. Together, we’ll continue focusing on enrolling and retaining out-of-school children and enhancing skills development for future jobs. By fostering youth employment and self-employment opportunities, we aim to create a brighter future for young people, while boosting economic growth across the region,” said IDB President Ilan Goldfajn.
“This renewed partnership between EAA Foundation and IDB reinforces our shared commitment to ensure that every child and young person, regardless of their circumstances, has access to quality primary education and the skills they need to build a brighter future. By addressing systemic barriers to education and equipping youth with pathways to employment, we are investing in sustainable solutions that can empower entire communities” said Mohammed Al Kubaisi, acting CEO of Education Above All Foundation.
The partnership seeks to expand access to quality post-secondary education and enhance youth employability and entrepreneurship, and integrate vocational training. The organizations will explore joint interventions to address learning challenges in schools vulnerable to extreme climate events and leverage innovative financing solutions to mobilize more resources for education. They will also coordinate efforts with other institutions to align shared priorities and objectives.
The IDB and EAA Foundation will explore innovative financing mechanisms to optimize resource mobilization. In addition, they will co-design and implement innovative financing solutions and expand partnerships through programs such as the IDB’s ONE Caribbean regional program.
The IDB and EAA Foundation have been collaborating since 2019 and have supported the education of 112,000 children in Haiti.
About the IDB
The Inter-American Development Bank (IDB) is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the IDB works with the region’s public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise and knowledge, it promotes growth and well-being in 26 countries.
About Education Above All Foundation
The Education Above All (EAA) Foundation is a global foundation established in 2012 by Her Highness Sheikha Moza bint Nasser. The EAA Foundation aims to transform lives through education and employment opportunities. We believe that education is the single most effective means of reducing poverty, creating peaceful and just societies, unlocking the full potential of every child and youth, and creating the right conditions to achieve Sustainable Development Goals (SDGs).
Through our multi-sectoral approach, unique financing models, focus on innovation as a tool for social good, and partnerships, we aim to bring hope and real opportunities to the lives of marginalised children and youth. EAA Foundation is comprised of the following programmes: Educate A Child (EAC), Al Fakhoora, Reach Out To All (ROTA), Protect Education in Insecurity and Conflict (PEIC), Innovation Development (ID), Silatech and Together project.
Garcia,Geraldine
Planes,Maria Soledad
