Performance Based Funding Options Discussed

International Consultant Company IBF (Belgium) continues working on HE’s new financing model development. IBF – a multisector consulting company with 40 years of experience in the higher education sector has already submitted the draft version of the document.

With the purpose to discuss the submitted document, on October 5, an online workshop was held. Representatives of MoES, NCEQE, the WB and experts were involved in the discussion.

At the workshop, IBF held a presentation on the successful models of funding for Higher Education and mentioned weaknesses in the current funding model in Georgia. Experts also discussed core funding and its principles that provide differentiated, fair and transparent funding for higher education institutions.

IBF, together with the I2Q Project team proposed a general vision for the implementation of reform for HE financing. The potential benefits of implementing the performance-based funding was mentioned at the meeting, including allocation of resources to the institutions that make the most productive use of them, accountability to the government, transparency and social responsibility, capacity building, strategic development, etc.