![]() Nearly 300,000 children die every year from diarrhea linked to a lack of access to safe water and sanitation. In the world’s poorest countries, four out of five poor people are not covered by a social safety net, leaving them extremely vulnerable to shocks. C OVID-19 is also causing significant disruptions in essential health services including routine vaccinations and child healthcare. People in developing countries spend half a trillion dollars annually - over $80 per person - out of their own pockets to access health services, and such expenses hit the poor the hardest. This is exacerbated by the pandemic – with many children out of school and losing out on learning. Data show that in some countries, children acquire significantly fewer years of learning than in other countries, despite being in school the same length of time. The current global pandemic may lead to even higher numbers of children stunted.Ī learning crisis is holding many countries back. In 2019, more than 1 in 5 young children were stunted due to under-nutrition (with low height for their age-a red flag indicator for the risk of physical and cognitive deficits) ( JME 2020). What is the state of human capital in the world today?ĭespite unprecedented human development gains over the past 25 years, serious challenges remain, especially for developing countries. The cost of inaction on human capital development is going up.įinance Ministers who have been meeting to discuss human capital at recent Spring and Annual Meetings of the World Bank Group have emphasized the importance of human capital to the jobs and economic transformation agenda in countries at all stages of development.ģ. There is mounting evidence that unless they strengthen their human capital, countries cannot achieve sustained, inclusive economic growth, will not have a workforce prepared for the more highly skilled jobs of the future, and will not compete effectively in the global economy. Investing in people through nutrition, health care, quality education, jobs and skills helps develop human capital, and this is key to ending extreme poverty and creating more inclusive societies.Īs noted in the World Development Report (WDR) 2019: The Changing Nature of Work, the frontier for skills is moving rapidly, bringing both opportunities and risks. Human capital consists of the knowledge, skills, and health that people invest in and accumulate throughout their lives, enabling them to realize their potential as productive members of society. What is human capital and why does it matter? It is also a cross-cutting priority for IDA-19, the current cycle of IDA financing covering July 2020 - June 2023, the World Bank Group’s fund for the world’s poorest countries.Ģ. It is closely integrated with our efforts to promote sustainable, inclusive growth and build resilience across developing countries. Protecting and investing in people is one of three main ways we are working to reach our goals of ending extreme poverty by 2030 and boosting shared prosperity in all countries. Human capital is at the center of our global strategy for development. Focal points, usually based in the Ministries of Finance, Economy, or Planning (and sometimes in sectoral ministries) connect regularly to exchange knowledge and feedback. We have launched a Human Capital Project country network to connect governments that are prioritizing human capital and to channel expertise where it is most needed. In the Middle East and North Africa, we are focusing on areas such as early childhood and building the resilience of vulnerable people. We are scaling up human capital investments in Sub-Saharan Africa with a strong focus on women’s empowerment, leveraging technology, and accelerating innovation, among other priorities. As of October 2022, 86 countries at all income levels are working with the World Bank Group on strategic approaches to transform their human capital outcomes. ![]() The Human Capital Project is a global effort to accelerate more and better investments in people for greater equity and economic growth. ![]() How does the Human Capital Index capture all aspects of human capital? How does the Human Capital Index relate to the Sustainable Development Goals (SDGs)? How does the Human Capital Index differ from UNDP’s Human Development Index? What is the Utilization-Adjusted Human Capital Index? How has COVID-19 affected the Human Capital Index? What does the Human Capital Index show for girls and boys? ![]() How has the Human Capital Index evolved since its launch in 2018?
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |