The World Bank Group’s objective is to put people at the heart of development and to preserve their lives and livelihoods.
People are better suited to escape poverty and lead productive lives when they have access to excellent education and training, health services, and social protection, and when women and girls have better possibilities. They are also more resilient in the event of a disaster and are better prepared to withstand a pandemic or a climate change shock.
Human development had been making steady progress before the COVID-19 epidemic wreaked havoc over the world, as demonstrated by the Human Capital Index, which revealed that some low-income countries had made the most progress. However, the pandemic has had a devastating effect on many people, particularly the impoverished and most vulnerable. Global extreme poverty grew for the first time in more than two decades in 2020, with roughly 100 million more people pushed into poverty — exacerbating already high levels of inequality.
Prior to the pandemic, countries had already faced significant obstacles in providing greater possibilities for citizens. COVID-19 now threatens to undo the hard-won human capital achievements of the previous decade. The reality is that access to high-quality health care, education, and social protection systems – as well as the possibilities that these investments in people provide – is still highly uneven within and within countries.
Since the outbreak began, the World Bank Group has spent about $157 billion to combat the pandemic’s health, economic, and social effects — the greatest crisis response in the Bank Group’s history. Support for managing the health emergency response, strengthening health systems, protecting and recovering learning, protecting the poor and vulnerable, supporting businesses, creating jobs, and kicking off a green, resilient, and inclusive recovery are all included.
With the backing of the World Bank, countries are taking steps to improve people’s lives in these areas.
