The Right Investments to Address the Human Capital Crisis
The world faces a growing human capital crisis that demands urgent attention. By making the right investments in people, especially the poorest and most vulnerable, we can help to give them the health, knowledge, and skills they need to realize their full potential.
WASHINGTON, DC – For 75 years, the World Bank has been at the forefront of development, helping countries make smart investments to prepare their citizens for the future. It has been particularly focused on the poorest and most vulnerable – their access to infrastructure, health, education, assets, jobs, and markets. In recent years, it has embraced policies and investment in areas critical for the world’s future, such as combating climate change and making technology work for the poor.
Everywhere I travel – from Rwanda to Zambia, or from Indonesia to my home country, Bulgaria – I see the difference that technology can make in people’s lives. The impact is apparent in a multitude of ways, such as digital payment systems or the emerging gig economy, leading to remarkable success stories.
But just as technology is improving the lives of millions around the world, it is also changing the nature of work. Our 2019 World Development Report focused on how innovation is changing or doing away with existing jobs and launching entirely new fields of employment that didn’t exist a few years ago.