review under responsibility of the Scientific Committee of GLOBE-EDU 2014.
Keywords: social impact bonds (SIBs); public-private partnerships (PPP); education financing; development assistance models
1. Introduction
As stated in the Millennium Development Goals (United Nations, n.d.), placed at number two, universal primary
education is inarguably an important aspect of an individual. To some, it is a necessity that should be considered a
basic human right. As education is stressed to have important value on a global scale, the realities of current
education systems reveals the challenges and issues that keep those ideals distant for both developing and developed
countries due to lack of education funding.
Global Monitoring Report reports that basic education is underfunded by 26 billion in U.S. dollars each year
* Jasper Kim. Tel:+-4-543-345-333.
E-mail address: michelle.j.han28@gmail.com
© 2015 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license
(http://creativecommons.org/licenses/by-nc-nd/4.0/).
Peer-review under responsibility of the Scientific Committee of GLOBE-EDU 2014.