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?
Jim Yong Kim's blog
For three days this month, the West African nation of Senegal was in the spotlight of global efforts to combat climate change and improve education in a rapidly changing world.
French President Emmanuel Macron and Senegal’s President Macky Sall co-hosted a conference in Dakar to replenish the Global Partnership for Education (GPE) – a funding platform to help low-income countries increase the number of children who are both in school and learning.
African leaders and partners stepped up to announce their commitment to provide an education that prepares children to compete in the economy of the future and advances socio-economic progress.
Heads of state from across the continent described their challenges—including terrorism, insecurity, the influx of refugee children who need an education, the strain on national budgets, and the cultural bias against educating girls.
. As we said in this month’s Global Economic Prospects report, for the first time since the financial crisis, the World Bank is forecasting that the global economy will be operating at or near full capacity. We anticipate growth in advanced economies to moderate slightly, but growth in emerging markets and developing countries should strengthen to 4.5% this year.
This April, I had the honor of delivering a TED Talk in Vancouver, Canada. TED Talks aim to inspire and spread ideas, and this year’s theme – The Future Us – explored what lies ahead for the world.
Artificial intelligence, robotics, and other technological advances hold great promise, but these changes are coming at break-neck speed. I’m afraid many of us aren’t ready. There’s still too much poverty and inequality in the world, and we have a lot of work to provide opportunities for everyone.
On World Refugee Day, we pay tribute to faces of resilience – mothers, fathers, husbands, wives, and children, who fled horrific circumstances as refugees, but who continue to strive every day to rebuild their lives with dignity.
As the number of people displaced by conflict climbs to historic highs, it’s easy to lose sight of the faces behind the statistics. But recently, there’s been a sea change in how the world is managing this crisis – by putting people first, and making it possible for refugees to work or go to school and become self-reliant as an integral part of their host country’s development story.
The world's greatest risks can't be confined within borders. This is clearly the case with the ongoing refugee crisis, which is unprecedented in scale and affecting people and places far from the scene of civil war, fragility and conflict. The UK vote to leave the European Union showed, in part, the volatility and reach of the impact of forced displacement.
The Paris climate talks offer a once-in-a-generation opportunity to send the clear signal: We can build prosperity and support economic growth without carbon polluting the earth, and we must act with urgency because of a volatile, warming planet.
I believe political leaders from around the world will rise to this challenge in Paris. For us at the World Bank Group, we will help our client countries and companies make that transition to low-carbon and resilient economic development.
WASHINGTON, November 13, 2015—The World Bank Group today issued the following statement from World Bank Group President Jim Yong Kim on the attacks in Paris.
"We condemn violence of all kinds and the attacks in Paris are an assault on collective humanity. We send our condolences to all the families of those who have died, to the people of France and its government. This kind of senseless attack is so difficult to comprehend, yet we must respond with unwavering commitment to what makes us human – coming to the aid of all around us, especially the most vulnerable."
- The World Region
ACCRA, Ghana — Energy rationing is popularly nicknamed “dum-sor,” or “on-off” in Ghana, an expression that people use to talk about the country’s frequent power outages. This is a challenge faced by countries across the region — sub-Saharan Africa loses 2.1% of gross domestic product from blackouts alone — and across the developing world.
While the lack of a consistent electricity supply is one of Ghana’s largest economic challenges, the truth is that the country has made progress in increasing access to energy. Today, about 75% of the country is connected to the national electricity grid. This is significantly higher than the regional average: only one in three people in sub-Saharan Africa has access to electricity.
In just six weeks, world leaders will meet in Paris to negotiate a new global climate-change agreement. To date, 150 countries have submitted plans detailing how they will move their economies along a more resilient low-carbon trajectory. These plans represent the first generation of investments to be made in order to build a competitive future without the dangerous levels of carbon-dioxide emissions that are now driving global warming.
The transition to a cleaner future will require both government action and the right incentives for the private sector. At the center should be a strong public policy that puts a price on carbon pollution. Placing a higher price on carbon-based fuels, electricity, and industrial activities will create incentives for the use of cleaner fuels, save energy, and promote a shift to greener investments. Measures such as carbon taxes and fees, emissions-trading programs and other pricing mechanisms, and removal of inefficient subsidies can give businesses and households the certainty and predictability they need to make long-term investments in climate-smart development.