WB pumps total of $ 75bn for generating more, better jobs

WB pumps total of $ 75bn for generating more, better jobs
بقلم Marwa Nassar - -
The World Bank is stepping up its support to address country demand for generating more and better jobs, and to date has more than 580 active job-related projects, with investments totaling $75 billion.

These investments are helping low-income countries with large youth populations tackle significant challenges so that young people have the tools to lift themselves and their communities out of poverty. In Liberia, for example, more than 60 percent of the population is under the age of 24 and most people earn their income on a day-to-day basis as either day laborers or by trading at local markets. In 2017, the World Bank launched Liberia’s Youth Opportunities Project to provide young people with business training and income support, while also connecting them to mentors in the community. To date, some 2,000 women aged 18-27 have already opened or expanded more than 500 businesses, accumulating savings to invest in their future—and in doing so, contributing to their country’s stability and prosperity.

Preparing for the jobs of tomorrow, while making critical human capital investments today is a priority for achieving economic transformation in the poorest countries. As part of the Human Capital Project (HCP), the Bank is supporting governments to equip the next generation of workers with the skills needed to tackle the types of jobs which the changing world of work will require. This also requires enabling workers to move from lower to higher productivity activities—led by a vibrant private sector and supported by public policy actions.  Just this June, the World Bank launched a $1.45 billion financing package to help Jordan undertake reforms that will stimulate inclusive growth and create more jobs for all, including women and youth.

In rural Zambia, the Girls education and Women’s Empowerment and Livelihood Project (GEWEL), which helps 89,000 vulnerable girls and women attend secondary school with support from IDA, is giving young women the tools they need for success. The project offers training and startup capital, as well as savings and mentoring support. “Now I have a second chance that many don’t have,” said Naomi, one of the program beneficiaries.

“Building human capital is the clear path to good jobs,” said Michal Rutkowski, World Bank Global Director for Social Protection and Jobs. “Millions of young people need the right skills to compete in today’s changing job market and millions of children need better education and health care for the jobs of the future.”

شارك الخبر

اترك تعليقا

Your email address will not be published. Required fields are marked *

مقالات ذات صلة