On the 17th, the United Nations launched an international education financing tool for low - and middle-income countries, aimed at providing education funds to young people and children in these countries. On the same day, UN Secretary General Guterres held a press conference with the UN Global Education Envoy and former British Prime Minister Gordon Brown at the UN headquarters in New York. Brown submitted the constitution for the creation of international education financing tools to Guterres. Guterres said at the press conference that since the outbreak of COVID-19, many countries have reduced their education expenditure, but education is an element of peace, prosperity and social stability, and reducing education investment will lead to a more serious crisis. Many developing countries are in urgent need of support in education. The international education financing tool was set up for this purpose, and its main targets are young people and children in low - and middle-income countries, as well as displaced and refugee children. Brown said that hundreds of millions of young people and children around the world are facing education problems. The international education financing tool has a starting capital of 2 billion US dollars, and the final capital scale will reach 10 billion US dollars, making it the largest single education fund in the world. It is reported that the international education financing tool adopts the form of direct donation and financing guarantee, and the first batch of projects are expected to start in 2023. (Liu Xinshe)