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Thursday , October 29 2020
The world bank report that the pandemic threatens the human capital gain of the past decades

The world bank report that the pandemic threatens the human capital gain of the past decades

A new world bank analysis finds that the global coronavirus pandemic threatens the gains in education and health over the past decades, specifically in the poorest countries. The key to discover the untapped potential in every child and improve the economic growth in every country is investment in human capital which includes the knowledge, skills, and health the people accumulate over time. The World Bank Group’s 2020 Human Capital Index includes education and health data for 174 countries which covers 98 percent of the world’s population up to March 2020, giving a health and education baseline before pandemic.

Most countries has been making a significant process in building human capital of children, with the biggest stride made in low-income countries has revealed by the analysis. In the light of this progress, a child born in a typical country could expect to achieve just 56percent of their potential human capital, in respect to a yardstick of full health and complete education. Protecting and investing in people is vital as countries work to lay the foundation for sustainable, inclusive recoveries and future growth.

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The World Bank Group President David Malpass stated “The pandemic puts at risk the decade’s progress in building human capital, including the improvements in health, survival rates, school enrollment, and reduced stunting. The economic impact of the pandemic has been particularly deep for women and for the most disadvantaged families, leaving many vulnerable to food insecurity and poverty,”.

More than 1billion of most children have been away from school, had half a year of schooling, as a result of the global impact of the coronavirus pandemic which translate into considerable monetary losses. Data also shows significant disruptions to essential health services for women and children, with many children missing out on crucial vaccinations.

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