Giving Compass' Take:

• The author describes how private partnerships are a promising way to fund global education. One corporation in particular, the Global Business Coalition for Education, is spearheading programs to enhance educational opportunities. 

• What are some major considerations to think about when funding global education? 

• Read about the Gates Foundation global education initiative strategy. 

More than 260 million school-aged children and youth around the world are not in school today. And even those who are enrolled may end up without the benefits of a primary education: Globally, more than half a billion school-age children will either drop out of school at a young age or learn very little.

These numbers should startle everyone. If the world continues along this trajectory, by 2030 more than 800 million youth will not have the skills to join the workforce, crippling global economic growth and development.

Being able to read and write, perhaps even use a computer, is more than a convenience. Education is directly correlated with healthier families, improved gender equality, and more stable and peaceful communities.

Clearly, the status quo is not working. It’s time to forge next-generation partnerships that can unlock the bold innovations required to achieve quality education for all.

The private sector can be a tremendous help in achieving this goal. For starters, international corporations understand the changing labor market and the future needs of employers. With the ascent of automation, businesses have an interest in tapping a global workforce that’s rich in intellectual resources. Moreover, we need a business-solutions approach to the education problem.

Since 2012, Global Business Coalition for Education (GBC-Ed), this coalition has driven private-sector engagement in global education. The 140 (and counting) members of GBC-Ed are eager to determine how and where they can be most effective, and to lend their support.

Read the full article about international corporations can help education by Sarah Brown at Stanford Social Innovation Review