India, Sept. 22 -- Governments worldwide spend enough on direct fossil fuel subsidies in just two-and-a-half days to match the US$5 billion sought to support education for nearly 750 million children over five years, according to Save the Children.
$725 Billion Spent Annually
Governments spent about US$725 billion on direct subsidies for coal, oil and natural gas in 2024, the latest figures cited by Save the Children from the International Monetary Fund. These subsidies include tax breaks, low-interest loans and other measures that reduce the cost of producing or consuming fossil fuels.
The US$5 billion education target is being sought by the Global Partnership for Education at its replenishment summit during the UN General Assembly in N...