W’Bank links job creation to poverty reduction
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The World Bank has emphasised that creating jobs is central to reducing poverty, fostering stability, and generating local economic opportunities, even as countries navigate global economic turbulence.
In a recent blog, the Bank highlighted that 2025 posed multiple challenges, from ongoing conflicts and economic uncertainty to extreme weather events, but developing economies demonstrated resilience beyond expectations. Despite rising debt service obligations, slowing global growth, and persistent trade frictions, global growth is projected to reach 2.7 per cent this year.
“Jobs are not only the surest path out of poverty but also provide dignity, hope, and stability,” World Bank Group President Ajay Banga wrote.
“Our ultimate goal is to help countries build dynamic private sectors that convert growth into local jobs, not by shifting work from developed countries, but by unlocking opportunities where people already live.”
The Bank noted that over the next decade, 1.2 billion young people in developing countries will enter the workforce, underscoring the urgent need for job creation. Failure to provide sufficient opportunities, it warned, could trigger instability, unrest, and mass migration, with implications for every region.
To tackle this challenge, the World Bank has focused on sectors with high employment potential, including infrastructure, energy, agribusiness, health care, tourism, and manufacturing. Initiatives such as Mission 300, launched with the African Development Bank, aim to connect 300 million Africans to electricity by 2030, boosting productivity and spurring jobs.
By linking economic growth directly to employment, the World Bank seeks to ensure that development is both inclusive and sustainable, supporting communities while building the foundations for long-term prosperity.
