Result-based financing (RBF) capturesthe essence of how the World Bank Group (WBG) isimplementing its education strategy, Learning for All. Thestrategy emphasizes learning (rather than just schooling),since that is what leads to economic growth, development,and poverty reduction. Second, the strategy calls forinvesting For all so as to ensure the equity dimensionbehind the Sustainable Development Goals (SDGs) and theBank’s Twin Goals of reducing poverty and boosting sharedprosperity. These goals can be achieved throughstrengthening education systems. This paper largely focuseson how finance, and RBF specifically, can be used as a leverto pull education systems into coherence. RBF encompassesall of the four transformations called for: performance,innovation, inclusion, and finance. Specifically, puttingresults first (performance), and embracing results-basedapproaches to finance (finance) is at the heart of the WBGapproach. The approach also offers a new way of approachingproblems (innovation), and incentivizing results allows fordifferentiating levels of rewards, in order to favortraditionally disadvantaged groups, such as rural girls orchildren living with disabilities (inclusion).
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