Collapse & Recovery: How COVID-19 Eroded Human Capital and What to Do About It
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Collapse & Recovery: How COVID-19 Eroded Human Capital and What to Do About It
This event will be streamed with interpretation in Arabic, French, Portuguese, Spanish
The World Bank’s Human Development Flagship report, Collapse & Recovery: How COVID-19 Eroded Human Capital and What to Do About It, provides a comprehensive review of global data showing that the COVID-19 pandemic destroyed human capital at critical moments in the life cycle, scarring millions of children and young people in low- and middle-income countries.
These human capital losses threaten to reduce lifetime earnings, increase inequality, and increase social unrest for decades to come. Countries must address these problems otherwise they face generations of scarred children and youth and a catastrophic blow to economic development.
This global launch event begins with opening remarks from World Bank senior leadership and a short presentation of the report’s key findings and recommendations. The presentation will be followed by a panel discussion with representatives from government, civil society, and global development organizations. The panel explores the specific impacts of COVID on individuals in each life stage, the related risks to their futures, and policy options countries can consider to help address the challenges.
00:00 Welcome
- Gessye G. Safou-Mat, Communications Officer, IFC
02:15 Opening remarks
- Indermit Gill, Chief Economist of the World Bank Group and Senior Vice President for Development Economics
05:23 Report presentation
- Alaka Holla, Senior Economist, Human Development Chief Economist Office, World Bank
- Joana Silva, Senior Economist, Human Development Chief Economist Office, World Bank
13:22 Panel discussion
- Robert Jenkins, Global Director, Education and Adolescent Development, UNICEF
- Santiago Levy, Nonresident Senior Fellow, The Brookings Institution
- Rukmini Banerji, CEO of Pratham Education Foundation, India
- Norbert Schady, Chief Economist, Human Development, World Bank
50:19 Closing remarks
- Mamta Murthi, Vice President, Human Development, World Bank
COVID-19’s impact on young people risks a lost generation. As @Pratham_India said, we must work together to leap forward!
— Mamta Murthi (@MamtaMurthi) February 16, 2023
Great discussion today with @IndermitGill, @RobertG_Jenkins & others on how countries can best #InvestinPeople. Watch replay here: https://t.co/TPuBiQDqmd pic.twitter.com/NOMXsrwPll
How has #COVID19 impacted #HumanCapital?
— World Bank Health (@WBG_Health) February 15, 2023
Join the global launch of our new @WorldBank report on recovering #HumanCapital, featuring @Pratham_India @RobertG_Jenkins @MamtaMurthi + more.
Let's find solutions to recover losses & #InvestInPeople. https://t.co/oYeb4avqG9
The lifetime earnings potential of today’s youth globally may be reduced by $21 trillion due to #HumanCapital setbacks from COVID-19.
— World Bank (@WorldBank) February 16, 2023
A NEW report shows why countries MUST #InvestInPeople to recover these losses: https://t.co/omxBIufxkV pic.twitter.com/NdtsTqup9G
#HumanCapital drives poverty reduction & inclusive growth. Countries must #InvestInPeople & focus on:
— World Bank Education (@WBG_Education) February 16, 2023
?Vaccinations + nutrition
?Increasing #education
?Training + jobs
More policy options and solutions in this NEW report, Collapse & Recovery: https://t.co/aMxvCbo1k1 pic.twitter.com/RGyLcPX1YN
?Are you interested in learning how #COVID19 eroded human capital and why we need to #InvestInPeople?
— Stefano De Cupis? (@StefanoDeCupis) February 15, 2023
????Join @IndermitGill @MamtaMurthi @RobertG_Jenkins @Pratham_India and other key experts on Feb 16 | 9AM EST: https://t.co/E8o5jmSJ4L via @WorldBankLive #SDGs #SDG4 pic.twitter.com/QNXPaCwOl2
VIDEO CHAPTERS 0:00 Collapse & Recovery: Report overview 0:47 COVID-19 impact on early childhood 1:36 The impact of school closures 2:19 COVID-19 impact on youth 3:31 What can countries do? 5:21 Let's get started
“Restoring lasting prosperity will not be possible to do without prompt action to rebuild human capital.”
— Indermit Gill, Chief Economist of the World Bank Group and Senior Vice President for Development Economics
"It's not too late to begin recovering the losses that COVID-19 brought to human capital. We need to work in partnerships, continue to raise awareness on what needs to be done, and help countries build better and more resilient systems to withstand future challenges."
— Mamta Murthi, Vice President, Human Development, World Bank
“Countries that are more dynamic with their education systems and delivery of learning opportunities fare better in the challenging situations that are to come.”
— Robert Jenkins, Global Director, Education and Adolescent Development, UNICEF
“It is likely that a lot of these youth are going to be entering the labor market with less human capital than before. So, we need to rethink the structure of labor markets and social insurance.”
— Santiago Levy, Nonresident Senior Fellow, The Brookings Institution
“Put aside the linear, age grade curriculum for a little while. Focus on the basics, basic reading, basic math. Children will progress quickly if you start at their own level.”
— Rukmini Banerji, CEO of Pratham Education Foundation, India
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Speakers
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Chief Economist of the World Bank Group and Senior Vice President for Development Economics
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Acting Managing Director of Development Policy & Partnerships and Vice President for Human Development, World Bank
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Chief Economist, Human Development, World Bank
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Nonresident Senior Fellow, The Brookings Institution
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Senior Economist, Human Development Chief Economist Office, World Bank
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Senior Economist, Human Development Chief Economist Office, World Bank
Moderator
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Communications Officer, IFC