Results-Based Financing in Education : Financing Results to Strengthen Systems
Result-based financing (RBF) captures the essence of how the World Bank Group (WBG) is implementing its education strategy, Learning for All. The strategy emphasizes learning (rather than just schooling), since that is what leads to economic growth...
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/715791489054110215/Results-based-financing-in-education-financing-results-to-strengthen-systems http://hdl.handle.net/10986/26268 |
| Summary: | Result-based financing (RBF) captures
the essence of how the World Bank Group (WBG) is
implementing its education strategy, Learning for All. The
strategy emphasizes learning (rather than just schooling),
since that is what leads to economic growth, development,
and poverty reduction. Second, the strategy calls for
investing For all so as to ensure the equity dimension
behind the Sustainable Development Goals (SDGs) and the
Bank’s Twin Goals of reducing poverty and boosting shared
prosperity. These goals can be achieved through
strengthening education systems. This paper largely focuses
on how finance, and RBF specifically, can be used as a lever
to pull education systems into coherence. RBF encompasses
all of the four transformations called for: performance,
innovation, inclusion, and finance. Specifically, putting
results first (performance), and embracing results-based
approaches to finance (finance) is at the heart of the WBG
approach. The approach also offers a new way of approaching
problems (innovation), and incentivizing results allows for
differentiating levels of rewards, in order to favor
traditionally disadvantaged groups, such as rural girls or
children living with disabilities (inclusion). |
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