With 189 member countries, staff from more 170 countries, and offices in over 130 locations, the World Bank Group is best countries to invest in africa unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The World Bank Group works in every major area of development. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth.
Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. Yemen is home to the largest food-insecure population — 17 million Yemenis don’t reliably have enough to eat, and over 3 million children, and pregnant and nursing women, are acutely malnourished. A complex mix of ongoing fragility and conflict, large-scale displacement, climate-change and natural resource degradation continues to intensify food insecurity for millions of people around the world. In the last three years, global emissions had leveled off, but they recently began to rise again. Natural disasters dominated the news Record-breaking hurricanes, torrential monsoon rains, and historic flooding claimed lives and destroyed property in the Caribbean, South Asia, and the United States. In Sierra Leone and Colombia, hundreds died in mudslides after heavy rains.
But disasters affect people differently — poorer people suffer only a fraction of economic losses caused by disasters, but they bear the brunt of their consequences. Investing in people leads to greater wealth and faster economic growth. Human capital – the skills, experience and effort of a population, is the world’s greatest asset. As countries grow, the share of human capital becomes more important.
But there’s a crisis in learning. The 2018 World Development Report finds that the quality and quantity of education vary widely within and across countries. Hundreds of millions of children around the world are growing up without even the most basic life skills. A forthcoming study will look at the effects of education on economic mobility between generations. And with the jobs of the future expected to demand new and more sophisticated skills, it’s becoming more critical to invest early in people. A new report finds that marriage deeply affects child brides, their children, their family and even their countries. Girls married young are in turn: less likely to complete secondary school, more likely to give birth before they’re 18, have reduced future earnings, and are at greater risk of domestic violence.
Elections are one of the most well-established mechanisms available to citizens to strengthen accountability and responsiveness to their demands. According to the report, ordinary citizens and marginalized groups sometimes find political parties unwilling to represent and articulate their demands. A vibrant private sector leads to job creation which can transform countries and communities. The Doing Business project has recorded nearly 3,200 reforms in the business environment of 186 economies around the world. The area that’s seen the greatest number of reforms is starting a business.
Finally, we’d like to pay tribute to Professor Hans Rosling, who passed away in February this year. He was best known for his theatrical presentations that brought data to life with stories and visualizations, and which he hoped would change people’s mindsets and improve their understanding of the world. The World Bank Group, All Rights Reserved. Please forward this error screen to 64. Build the way to transformational growth.
Build a sustainable future for the next generation. The 2013 Africa Progress Report explains how this unprecedented chance could lift millions out of poverty and improve the prospects of generations to come. The report sets out an agenda for maximising Africa’s natural resource wealth and using it to improve well-being. African governments should start with a strengthened focus on fiscal policy and equitable public spending on infrastructure, health, education, water and sanitation. Moves towards greater transparency and accountability should be broadened and deepened. International action can create an enabling environment for strengthened governance in Africa.
African citizens should demand that their governments meet the highest standards of propriety and disclosure. The surge in resource wealth brings with it complex challenges and very real risks. Yet it also brings an unrivalled opportunity. And with new exploration revealing much larger reserves than were previously known, Africa stands to reap a natural resource windfall. If this resource wealth is managed effectively and equitably, it could put the region on a pathway towards dynamic and inclusive growth. RESOURCE WEALTH AMID HUMAN POVERTY Africa’s economic fortunes have changed dramatically in the past decade. Some resource-rich countries have made impressive strides in improving the lives of their people.
Aftera decade of strong growth, several of Africa’s resource-rich countries remain at the bottom of the international league-table for human development. Others register some of the world’s largest inequalities in wealth and in wellbeing, as captured by indicators such as life expectancy and education. Chapter One of the report reviews the record of the past decade and the potential for resource wealth to accelerate human development. Chapter two looks at the gap between wealth and wellbeing in resource-rich countries, and explores the complex and varied interaction between economic growth, inequality and poverty reduction. AS AN ENGINE OF GROWTH For more than a decade, African economies have been riding the crest of a global commodity wave. Demand for energy resources and metals has been outstripping supply, pushing up prices to near record levels in some cases.