[By NBC-1TV H. J Yook]During a private event at the 2014 Annual Meeting of the World Economic Forum, leadership of Education Above All (EAA), a global initiative of Her Highness Sheikha Moza bint Nasser, made a call for the world’s business and philanthropy leaders to accelerate the effort to provide and finance quality basic education for the world’s estimated 57 million out of school children. With fewer than 700 days before the Millennium Development Goals deadline, EAA highlighted the long-term impact of investment in primary education on GDP as the imperative for immediate and sustained action.

Current funding for basic education in low income countries covers less than 10% of the amount required, leaving a funding gap of $24 billion per year. To close the gap, EAA aims to link proven programmatic success with innovative funding mechanisms to open opportunities for new sources of funds - from philanthropists, official development assistance, investors, foundations and business.

Commenting on the need for new investment in education, Dr. Abdullah Al-Kubaisi, Special Envoy for Education Above All, said, “EAA has come to the World Economic Forum to call for new investment to support education. In the past the public and private sectors have stood up and made significant progress on issues of great social and economic importance, such as public health. We have today the same chance with primary education - to prevent lost opportunity and reduce poverty. Education can transform individual lives, and also economic outcomes for communities and nations.”