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

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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.

SEE LIST OF SPEAKERS

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

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

Read the Chat

Ritika D’Souza
Economist, Human Development, World Bank
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