As we mark International Women’s Day 2018, there has never been a more critical time to invest in people, especially in women and girls.
Skills, knowledge, and know-how – collectively called human capital – have become an enormous share of global wealth, bigger than produced capital such as factories or industry, or natural resources.
But human capital wealth is not evenly distributed around the world, and it’s a larger slice of wealth as countries develop. How, then, can developing countries build their human capital and prepare for a more technologically demanding future?
The answer is they must invest much more in the building blocks of human capital – in nutrition, health, education, social protection, and jobs. And the biggest returns will come from educating and nurturing girls, empowering women, and ensuring that social safety nets increase their resilience.
According to UNESCO estimates, 130 million girls between the age of 6 and 17 are out of school, and 15 million girls of primary-school age – half of them in sub-Saharan Africa – will never enter a classroom. Women’s participation in the global labor market is nearly 27 percentage points lower than for men, and women’s labor force participation fell from 52 percent in 1990 to 49 percent in 2016.
What if we could fix this?
Global Financing Facility
: climate change, natural disasters, poverty, water scarcity, food insecurity, global displacement, conflict and violence. These are not the kinds of challenges that will go away on their own—they feed off one another and flourish. The world is responding with the Sustainable Development Goals (SDG), which lay out a road map to building a more inclusive, peaceful and prosperous world—a better world.
Last week on World Population Day, I was thinking of the joy of children and the right of women to decide when to have them. It matters to women, but it matters to society as a whole. There can be no sustainable development without women’s empowerment, and there can be no women’s empowerment without access to comprehensive maternal and reproductive health services. Family planning is part of them.
This week at the Third International Financing for Development Conference in Addis Ababa, we’ve seen the birth of a new era in global health financing.
The World Bank Group, together with our partners in the United Nations, Canada, Norway, and the United States, just launched the Global Financing Facility in support of Every Woman Every Child. It’s hard to believe it’s been less than 10 months since the GFF was first announced at the 2014 UN General Assembly by World Bank Group President Jim Yong Kim, UN Secretary-General Ban Ki-moon, Prime Minister Stephen Harper of Canada and Prime Minister Erna Solberg of Norway. We’re grateful to the hundreds of representatives from developing countries, UN agencies, bilateral and multilateral development partners, civil society and the private sector who have contributed their time, ideas, and expertise to inform and shape the design of the GFF to get it ready to become operational.
This week in Addis Ababa, Ethiopia, during the Third International Financing for Development Conference, the United Nations, along with the World Bank Group, and the governments of Canada, Norway and the United States, joined country and global health leaders to launch the Global Financing Facility (GFF) in support of Every Woman Every Child. Partners announced that $12 billion in domestic and international, private and public funding had already been aligned to country-led five-year investment plans for women’s, children’s and adolescents’ health in the four GFF front-runner countries: Democratic Republic of the Congo, Ethiopia, Kenya and Tanzania.