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Annual Meetings 2014

It’s Time for Youth and Governments to Fall in Love

Ravi Kumar's picture
World Bank Group Youth Summit, Photo by Simone D. McCourtie


On a Friday morning in December of 2011, Mohamed Bouazizi, a 26-year-old street vendor, started his day to sell fruits and vegetables from his cart in Sidi Bouzid, Tunisia. But he didn’t have a permit to sell and a policewoman asked him to hand over his cart. He refused. She slapped him.
 
Bouazizi then walked straight to a government building and set himself on fire. In Tunisia, “dignity is more important than bread,” said his sister. That same day, protests began, quickly spreading via mobile and internet. Soon demonstrations were everywhere in the country. About a month later, the president of Tunisia fled.
 
Tunisia inspired many in the Middle East to speak up and protest. We know this phenomenon as the Arab Spring. These protesters, mostly young, challenged their governments in at least 20 countries. Young people demanded accountability, opportunities and transparency.
 
Throughout history, young people have used protests to hold governments accountable. Now, their roles in governments are front and center. Today’s youth are poised for greatness: not only are they the largest demographic in the world but they're also the most connected and educated generation.

Investing in the Poor through Extractives Industries

Shilpa Banerji's picture
 © Jonathan Ernst/World Bank

 
As newly resource-rich countries grapple with how to manage their resources well, questions arise on how governments can channel natural resource revenues into smart investments, as well as lessons learned from past experiences. At a Flagship event preceding the Annual Meetings, panelists came together to discuss “Making Extractives Industries’ Wealth Work for the Poor.”

If managed well, revenue from resources such as oil and gas in Tanzania and Mozambique, iron ore in Guinea, copper in Mongolia, gas and gold in Latin America, oil, gas, bauxite and gold in Central Asia, can contribute to sustainable development. When poorly handled they can present long-term challenges for governments, communities and the environment.

The panelists included Marinke Van Riet, International Director, Publish What You Pay; Ombeni Sefue, Chief Secretary of Government, Tanzania; Samuel Walsh, Chief Executive Officer, Rio Tinto; and Tan Sri Nor Mohamed Yakcop, Deputy Chairman, Nasional Berhad, Malaysia. The session was moderated by renowned energy expert Daniel Yergin, Vice-Chairman, IHS, and bestselling author of The Quest: Energy, Security, and the Remaking of the Modern World.