UN envoy: No jobs for millions without new education funds

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The U.N. special envoy for education is warning that years of neglect have left 260 million children out of school and another 400 million functionally illiterate — and if a better way isn't found to finance education more than 800 million young people will leave school without the skills to get a job in 2030.

Gordon Brown told reporters Wednesday that this represents half the world's 1.6 billion children.

If action isn't taken now, he said, the U.N. goal of ensuring that every child has a quality secondary school education by 2030 won't be met, even in 2100.

Brown proposed the creation of a new International Finance Facility for Education which he said would unlock nearly $10 billion annually for new investments in education and help achieve the U.N. goal.