Education is the most powerful investment countries can make, yet it is being systematically underfunded. Our projections show that global aid to education will decline by up to 30% between 2023 and 2027, perpetuating a cycle of underinvestment, inequality, and stalled development. Innovative financing mechanisms such as debt-for-education swaps already exist - they only need political will to be scaled up.
Khaled El-EnanyUNESCO Director-General
New research released today by the UNESCO Global Education Monitoring Report on the occasion of the Transforming Education Summit (TES + 4) highlights a continued decline in international aid to education, with a decrease by 8% in 2024 compared with the previous year, while aid to basic education (comprising only pre-school, primary and lower secondary levels) fell by 15%.
Sharp decline in international aid to education
In total, UNESCO's new projection shows that global aid to education will decline by up to 30% between 2023 and 2027. Low- and lower-middle-income countries have already lost over a fifth (21%) of the aid to education levels they were receiving in 2023. For some countries, including Afghanistan, Liberia, Mali and Niger, the loss is more than 40%.
The report also shows that education is falling down the list of priorities, with its share in development assistance falling to 7.5% in 2024 - the lowest level in two decades. In 2025, the world spent in just one and a half days (37 hours) on military what it allocates to education aid in an entire year.
UNESCO estimates that low- and lower-middle-income countries face an annual education financing gap of US$97 billion - and it is only widening.
Debt payments are increasingly competing with investments in education
Beyond declining aid, rising debt is placing increasing pressure on education systems across much of the developing world.
According to UNESCO's new Debt and Education package published at the TES+4 Summit, 113 countries - home to 6.1 billion people - spend more on debt servicing than on education. In low-income countries, debt payments are nearly four times higher than education spending, and in 18 of the most heavily indebted countries, they exceed government expenditure on education by a factor of five or more.
Education systems are particularly exposed to budget cuts because they are often one of the biggest parts of government spending and rely heavily on recurrent expenditures such as teachers' salaries, that can be planned. Cutting on education investments is, however, counterproductive in the long run since education generates revenue and growth.
Promising debt swap mechanisms
To help countries navigate these challenges, UNESCO is launching a technical guide on debt-for-education swaps. Debt-for-education swaps enable countries to convert part of their external debt obligations into targeted investments in education. UNESCO's new guide outlines when such a mechanism can be effective, and provides practical tools for debtor and creditor countries.
For instance, an agreement with France in 2023 allowed Cote d'Ivoire to free resources to build over 30 schools in underserved communities, reaching an estimated 30,000 students. In 2024, a €29 million debt swap with Germany helped Egypt develop school feeding, nutrition and access to basic services. And between 2006 and 2017, a debt swap programme between Spain and Peru converted US$20 million of debt into 50 medium-term education projects across eight vulnerable regions, reaching around 174,000 students, teachers and community members.
TES +4: a key milestone ahead of the 2030 education goal
UNESCO's new package of solutions and recommendations was launched at the Transforming Education Summit +4 which marks an important step in laying the foundation for the post-2030 education agenda.
The Summit brought together President Cyril Ramaphosa of South Africa, United Nations Deputy Secretary-General Amina J. Mohammed, more than 30 ministers of education, and representatives from development banks, civil society, youth leaders, academia and the private sector. It also featured the participation of Audrey Nuna, Grammy-nominated recording artist and songwriter (singing voice of Mira from Kpop Demon Hunters).
Today's Summit builds on the landmark launch in 2022, and its task is twofold. The first is acceleration: five years remain to deliver on Sustainable Development Goal 4 - inclusive, equitable, quality education for all - and the pace of the next five years will decide how much of that promise is kept. The second is direction: today's discussions will help define the global education agenda beyond 2030. Because 2030 is a milestone, not a finish line, and education will remain the foundation for every one of the Sustainable Development Goals.
Amina J. MohammedUnited Nations Deputy Secretary-General
The Summit also examined how artificial intelligence and other new technologies are reshaping education, contributing to UNESCO's ongoing efforts to ensure AI improves learning outcomes, particularly in developing countries, without undermining human agency. With a focus on building resilience in education systems, the impact of climate change and ongoing crises were also part of the Summit's agenda.
