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Human Capital

A seat at the table: WBG EDs and CSO discuss investing in human capital.

Anna Molero's picture


At the Spring Meetings of the World Bank and IMF Board of Governors, civil society get to engage directly with the World Bank’s Executive Directors (EDs). This year, I was honored to co-chair the CSO-ED Roundtable with Mr. Herve de Villeroche, Co-Dean of the World Bank Board and Executive Director for France.
 
I came to the Spring Meetings in my role as Chief Government Officer for Teach For All, a global network of 48 independent civil society organizations developing collective leadership to ensure all children can fulfill their potential. As moderator, I represented my CSO peers and noted during my opening remarks the “crucial partnership and dialogue needed between CSOs and the communities they represent at the highest level of leadership in our shared ecosystem.”

Toward a linked and inclusive economy

Jim Yong Kim's picture
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The arrival of broadband internet is set to significantly improve medical services in Tonga. © Tom Perry/World Bank.
The arrival of broadband internet is set to significantly improve medical services in Tonga. © Tom Perry/World Bank.

While some studies predict automation to eliminate jobs at a dizzying rate, disruptive technologies can also create new lines of work. Our working draft of the forthcoming 2019 World Development Report, The Changing Nature of Work, notes that in the past century robots have created more jobs than they have displaced. The capacity of technology to exponentially change how we live, work, and organize leaves us at the World Bank Group constantly asking: How can we adapt the skills and knowledge of today to match the jobs of tomorrow?
 
One answer is to harness the data revolution to support new pathways to development. Some 2.5 quintillion bytes of data are generated every day from cell phones, sensors, online platforms, and other sources. When data is used to help individuals adapt to the technology-led economy, it can make a huge contribution toward ending extreme poverty and inequality. Technology companies, however well intended, cannot do this alone.

To build a brighter future, invest in women and girls

Jim Yong Kim's picture
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Arne Hoel

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? Fostering women’s labor force participation, business ownership, and improvements in productivity could add billions to the global economy.

In Senegal, a call to invest in people and the planet

Jim Yong Kim's picture
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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.

Using adaptive social protection to cope with crisis and build resilience

Michal Rutkowski's picture
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In a world increasingly filled with risk, social protection systems help individuals and families cope with civil war, natural disaster, displacement, and other shocks. ©
 Farhana Asnap/World Bank


Crisis is becoming a new normal in the world today. Over the past 30 years, the world has lost more than 2.5 million people and almost $4 trillion to natural disasters. In 2017 alone, adverse natural events resulted in global losses of about $330 billion, making last year the costliest ever in terms of global weather-related disasters. Climate change, demographic shifts, and other global trends may also create fragility risks. Currently, conflicts drive 80 percent of all humanitarian needs and the share of the extreme poor living in conflict-affected situations is expected to rise to more than 60 percent by 2030.

What keeps the President of the World Bank up at night?

Jim Yong Kim's picture
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Residents of Kashadaha village visit the Kashadaha Anando school in Kashadaha village, Bangladesh. © Dominic Chavez/World Bank
Residents of Kashadaha village visit the Kashadaha Anando school in Kashadaha village, Bangladesh. © Dominic Chavez/World Bank


This year’s World Economic Forum Annual Meeting comes at a time of good news for the world economy. 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.