September 21, 2020: COVID-19 response, new research on human capital, and looking ahead to our Annual Meetings

I would like to provide another update on some of the work underway at the World Bank Group wbhq_2 to address the COVID-19 pandemic and other significant development challenges.

The pandemic is hitting developing countries hard, and the inequality of that impact is clear. From declining remittances to the collapse of the formal and informal markets, the pandemic has disproportionately impacted the world’s poorest, especially women and children.  It threatens to push over 100 million people into extreme poverty and is exacerbating inequality throughout the world. The negative impact on health and education may last decades—80 million children are missing out on essential vaccinations and over a billion are out of school.

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