A well-educated and skilled population is a country’s greatest asset and a key instrument of socio-economic development. A decent education means improved life chances, including better health and earning potential, and the opportunity to make a positive contribution to society. In an age so dependent on information and communication technologies, illiteracy in any form is a serious barrier not just to knowledge but to social inclusion as well. Nevertheless, an estimated 61 million children globally do not get even a basic primary school education, of which half of them are in sub-Saharan Africa.

In working with its partner countries to help them overcome such barriers, OFID’s assistance helps fund:

• construction and modernization of schools, vocational colleges and universities
• teacher training and institution strengthening
• knowledge exchange and transfer through the sponsorship of conferences, workshops and other intellectual pursuits

In 2012, OFID’s contribution to education and knowledge transfer amounted to US$46.1m, the bulk of it (96.5%) in public sector lending.

• China. US$18 m. To co-finance the expansion of four vocational secondary schools in Gansu province.
• Madagascar. US$3.5m. To construct a national Institute for Accounting and Management
• Sierra Leone. US$13m. To build and/or expand facilities at Fourah bay College in the capital Freetown
• Zambia. US$10m. To construct three new technical colleges in the Easterm Northwestern and Western provinces.

The remaining US$1.6m comprised 18 small grants. In addition to conference sponsorship and grassroots initiatives, these included three sums of US$50,000, drawn under the OFID Scholarship Program to sponsor the graduate studies of winning applicants from Guatemala, Moldova and Zimbabwe.