World Bank Commits to Empowering Women and Youth in Global South Countries

Thedailycourierng

World Bank Commits to Empowering Women: During the 2023 Annual Meetings of the World Bank and IMF in Marrakech, Morocco, World Bank President Ajay Banga unveiled the institution’s vision to direct its efforts toward economic inclusion in Global South countries, with a particular focus on women and children. The Global South typically includes nations such as Brazil, India, Pakistan, Indonesia, China, Nigeria, and Mexico due to their substantial land area and population.

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Banga emphasized that women, constituting half of the population, play a pivotal role in global economic development. Excluding them from opportunities and decision-making processes is counterproductive. Additionally, he highlighted the significance of ensuring that young people have access to quality living conditions, education, and employment opportunities, emphasizing the need to harness the demographic dividend they represent.

In line with the World Bank Commits to Empowering women to eradicate poverty and create a more livable world, Banga emphasized the critical importance of addressing the challenges faced by women and young people in the Global South.

Banga also noted the need to redefine the World Bank’s role in the coming decade. Rather than merely providing loans to countries, the World Bank aims to transform into a knowledge bank, providing valuable expertise in addition to financial resources. This shift aligns with the institution’s commitment to addressing the challenges faced by these nations more comprehensively.

Furthermore, Banga underlined the interconnected nature of the world’s challenges. Attempting to isolate problems such as poverty and pandemics can hinder effective solutions. Instead, the World Bank seeks to tackle these issues as interconnected challenges, recognizing that they often overlap in the real world.

The President of the World Bank commended Morocco for hosting the annual meetings with efficiency and exceptional hospitality, despite recently enduring a devastating earthquake in the North African nation.

The World Bank’s vision emphasizes the importance of fostering economic inclusion, particularly for women and youth, in Global South countries. By addressing these challenges holistically and providing knowledge and expertise, the World Bank aims to contribute to building a more prosperous and livable world.

The World Bank Commits to empowering Women commitment signifies a shift away from traditional lending practices, reflecting a broader approach to tackle the multifaceted challenges these nations face. Source thedailycourierng news

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