From crisis to resilience: World Bank Group Spring Meetings to focus on helping countries build a green and resilient recovery

The lingering pandemic has dealt the global economy an unprecedented shock, and the recovery is likely to be slow and uneven. The current crisis is exacerbating inequalities throughout the world and, without access to vaccines, the gap will widen further.

Meanwhile, COVID-19 has made clear the need to establish a better way to handle the debt-financing needs of developing economies. And for a sustainable future, solutions are most urgently needed in developing countries, where the investment gap is deepest, and people are most disproportionately impacted by the climate crisis. So, what will it take to shape a resilient recovery that works for people and the planet?

Continue reading

Reversing Setbacks to Poverty Reduction Requires Nations to Work Together for a Resilient Recovery

17-year-old M’Balu Tucker was poor even before the pandemic. She lives in Sierra Leone, a NewPoorInfographic1080post-conflict country, in a village with only one primary school and a single water tap, not enough to serve all the residents. There is no electricity and the roads are unpaved.

She dreams of furthering her education, moving to the city, and someday working in a bank, so that she can help her family, her village, and her country. But her parents, who are farm workers, sometimes don’t have the money to pay her school fees without taking out a loan.

Continue reading

The Human Face of COVID-19: Six Things to Consider for an Inclusive Recovery

Rehana is 21[1]. She left her village outside Rangpur to come to Dhaka three years ago becauseIR2 her cousin, who worked in a garment factory, told her there were plenty of opportunities in the city. Rehana admired her cousin’s confidence, independence, and status derived from the financial assistance she gave her family. Rehana also had a permanent disability caused by an accident that impaired her mobility. But once Rehana reached Dhaka, a whole new world opened up. She found new friends, a steady income, and a new sense of self. She began saving for her wedding and sending money back home to her family in the village. She even dreamt of one day owning a small business.

Continue reading