- maximizing finance for development
- Human Capital Project
- Human Capital
- Spring Meetings 2018
- spring meetings
- Private Sector Development
- Information and Communication Technologies
- Global Economy
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- Climate Change
- Agriculture and Rural Development
- The World Region
The World Region
Solar’s growing share of the energy mix is being driven by better storage capacity and attractive generation costs. Large solar parks are now competitive with most alternatives; their average cost is below 5 cents per kilowatt-hour in some developing countries. Smaller-scale solar grids are also getting more competitive, opening new paths to financing this clean energy source. With rapid improvements in energy efficient lighting, refrigeration, water pumps, and other technologies for households, solar may soon be as game-changing as mobile phones have been in the last decade.
Solar’s potential is evident from its quick growth in India, where installed capacity recently topped 20 gigawatts (GW), putting the country closer to its ambitious target of 100 GW from clean energy by 2022 (an amount comparable to total installed capacity in the United Kingdom).
For too long women have suffered from this type of violence that has negative consequences on their voice and agency as well as their capacity to fully participate in the economy and society. But sexual harassment also has negative effects on women’s economic opportunities. For example, if no recourse is available to protect them, instead of reporting the problem, women facing sexual harassment in the workplace often say that they have no other choice but to quit. This may mean starting over, missing out on pay raises, career growth opportunities, and earning potential.
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.
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?
. 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.
We live in a world where
Every November 25, the International Day for the Elimination of Violence against Women, we are reminded that gender-based violence continues to be a global epidemic with dire consequences for women, their families and entire communities. It leads to negative mental and physical health consequences for women and limits their decision-making ability and mobility, thereby reducing productivity and earnings. Beyond the individual harm, it also has substantial economic costs. Global estimates suggest the cost of gender-based violence to be as high as 3.7 percent of GDP – or $1.5 trillion a year.
She was seven when she survived a night of horror. Her home in Nigeria was marked for an attack that night for belonging to the ‘wrong’ ethnic group. My friend and the rest of her family were destined to be killed.
But she survived. Her neighbors who noticed the mark alerted them and helped them escape at a time when their other neighbors were being executed and even burned alive. That night, my friend saw a man die in very violent circumstances. The shock was so intense that she could not speak for two weeks.
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.
Sixty-five million people worldwide are displaced by conflict and war.
Developing countries host 95% of them.
Displaced people need help. But so do their host communities, which face enormous sudden pressures on their infrastructure, public services and markets. These pressures have the potential to undermine political stability.
This is why international development institutions are rethinking how to approach humanitarian crises, and no longer consider humanitarian assistance and development interventions as two separate, sequential responses. We, at the World Bank, have been ramping up our support to both people and communities affected by fragility, conflict and violence as well as disaster risk, which can exacerbate instability.
Being able to provide quality financial services before, during and after periods of humanitarian crises can improve people’s resilience and help sustain livelihoods.