| The World Bank's fiscal year (FY) is from July to June, ie, FY04 started on July 1, 2003 and lasted through June 30, 2004. |
FY 2004 Education Lending
World Bank lending for education in FY 04, including education components in non-education projects, amounted to $1,685 million ($1.7 billion), continuing an upward trend started in FY 01, albeit 29 percent below the FY 03 level. IDA lending reached a record of nearly $1.2 billion., boosted by a $500 million credit to India in support of Education for All.
Education Lending by IDA and IBRD FY 00-04
($ Million) | | | FY 00 | FY 01 | FY 02 | FY 03 | FY 04 | | IBRD | 273 | 517 | 753 | 1,325 | 524 | | IDA | 455 | 578 | 632 | 1,023 | 1,160 | | Total | 728 | 1,095 | 1,385 | 2,349 | 1,685 | Data is based on the new coding (education lending across all projects in all sectors).
Totals may not equal sums due to rounding. |
Total FY 04 lending for education projects was $1,534 million, of which $1,151 million was for IDA projects and $383 million for IBRD projects, a drop of $623 million from FY 03. This drop was accounted for mainly by IBRD lending, which fell by 73 percent from $1,413 million in FY 03 to $383 million in FY 04. During the same period, IDA lending increased by 55 percent from FY 03 levels. IDA lending accounted for 75 percent of FY 04 education lending, and IBRD 25 percent, the reverse of FY 03 when IDA lending accounted for 44 percent of lending and IBRD for 65 percent.
A total of 21 education projects in FY 04 was five less than in FY 03 but the same as FY 00 through FY02. The total included 8 IBRD loans, 12 IDA credits, and one “blend” operation. Over the past five years, the number of IDA credits has typically exceeded the number of IBRD loans.
Regional Distribution
Education lending in FY 04 varied widely among regions. The largest amount went to South Asia, dominated by the India Elementary Education Project. The Africa Region was the second largest borrower in dollar terms, with the largest number of projects (six). South Asia had the second largest number of projects (5), followed by Europe and Central Asia and Latin America and the Caribbean (each with 3) and the East Asia and Pacific and Middle East and North Africa regions (each with 2).
Regional Distribution of Education Lending FY 00-04
($ Million) | | Region | FY 00 | FY 01 | FY 02 | FY 03 | FY 04 | | AFR | 190 | 210 | 473 | 424 | 363 | | EAP | 84 | 15 | 135 | 226 | 119 | | ECA | 23 | 63 | 83 | 395 | 164 | | LCR | 63 | 529 | 560 | 785 | 218 | | MNA | 197 | 72 | 38 | 154 | 155 | | SAR | 171 | 206 | 96 | 365 | 666 | | Total | 728 | 1,095 | 1,385 | 2,349 | 1,685 | | |
FY 04 Education Lending by Sub-Sector and Region
($ Million) | | Sub-Sector | AFR | EAP | ECA | LCR | MNA | SAR | Total | | Adult lit/nonform ed (EL) | 4.6 | | | 6.0 | | | 10.6 | | Gen education sector (EZ) | 79.9 | 15.2 | 22.5 | 147.6 | 13.5 | 76.2 | 354.8 | | Pre-primary education (EC) | | | | | | 25.0 | 25.0 | | Primary education (EP) | 92.0 | 102.0 | 33.6 | 30.9 | 85.1 | 539.8 | 883.3 | | Secondary education (ES) | 124.0 | | 29.1 | 26.4 | 52.1 | 18.6 | 250.4 | | Tertiary education (ET) | 4.5 | 1.4 | 6.8 | 1.8 | | 6.2 | 62.2 | | Vocational training (EV) | 16.5 | | 72.0 | 5.6 | 4.1 | | 98.2 | | Total | 362.9 | 118.6 | 164.0 | 218.3 | 154.9 | 665.8 | 1684.5 |
Co-Financing
Seven of the years’ 21 education projects were co-financed with other donor agencies. Co-financing considerably leveraged Bank lending and provided an additional $1,340 million to the Bank’s $843 million for the seven co-financed projects. More than 15 multilateral and bilateral donor agencies participated in the co-financing. The largest amount of co-financing was for the India Elementary Education Project for which the European Community European Development Fund and the U.K. Department for International Development provided $541 million in addition to the IDA grant of $500 million. The largest number of co-financers for any one project was for the Niger Basic Education Project. At the end of FY 04, 14 financing agencies committed to the project with additional bilateral agencies expected. The co-financing amounted to $127 million in addition to the IDA credit of $30 million.
Education Components of Non-Education Lending
Continuing to build on the momentum created in FY 03, the education sector increased its participation in cross-sectoral lending operations during FY 04. The number of non-education operations with education components rose from 44 to 50, totaling $515 million. This accounted for nearly one-third of all Bank-wide lending for education. Africa and Latin America and the Caribbean accounted for the largest share of non-education projects with education components (16 and 13, respectively), and the Latin America region accounted for the largest dollar volume of such lending.
A substantial proportion of non-education operations with education components reflect two relatively recent emphases in Bank lending. The first is lending for social investment funds or community development lending, which accounted for nearly one-quarter of the lending for non-education operations with education components. Of the 17 FY 04 operations of this type, six were in the Africa region. A typical example is the Angola Third Social Action Fund. A second grouping of operations reflect relatively recent approaches in Bank lending, namely poverty reduction support credits (PRSCs). FY 04 saw nine of these operations (up from five in FY 03), accounting for 17 percent of the lending for non-education operations with education components. Lending for structural adjustment/programmatic sector lending/sector adjustment has long been a component of Bank lending. This grouping of non-education operations with education components numbered 12, accounting for 40 percent of cross-sectoral lending.
 Overview of FY 2007 Education Lending
Overview of FY 2006 Education Lending Overview of FY2005 Education Lending Overview of FY2003 Education Lending  
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