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Invest in children’s health and education to spur economic growth – World Bank

Thomson Reuters Foundation

Governments should invest in healthcare and education for children in order to boost economic growth, the World Bank urged on Thursday.

More than half of all children born this year will lose half of their potential lifetime earnings due to poverty, poor health and a lack of education, according to the World Bank’s Human Capital Index.

MORE THAN 50 MILLION CHILD MARRIAGES COULD BE PREVENTED IF GIRLS FINISHED SCHOOL

More than 50 million child marriages could be prevented by 2030 if all girls finished secondary school, the charity Save the Children said on Thursday.

Campaigners say children married young tend to leave school, have limited economic opportunities, are vulnerable to abuse and mental health problems and are more likely to live in poverty than those who marry later.

Here are more facts to mark International Day of the Girl:

• Worldwide, about 15 million girls aged 15 to 19 have experienced forced sex.

• In Britain, two-thirds of girls surveyed by Plan International said they had experienced unwanted sexual attention or contact in a public place.

• Every week, 7,000 girls between 15 and 24 are infected with HIV.

• More than 200 million girls and women have experienced female genital mutilation around the world.

• Almost three million girls have been displaced by war.

• Girls in conflict zones are more than twice as likely to be out of school than girls in peaceful countries.

• About 62 million girls of primary and lower secondary school age are not in school.

• Based on current trends, almost 10 million girls will marry in 2030 alone, and more than two million of those brides will be under the age of 15.

• Every year, 12 million girls are married off before they turn 18 and one in five become mothers before the age of 18.

Sources: UNICEF, Plan International, World Health Organization, Care International, Save the Children

– LIN TAYLOR

The global institution defined human capital as a person’s knowledge, wellbeing and skills accumulated over a lifetime.

“Human capital is a key driver of sustainable, inclusive economic growth, but investing in health and education has not gotten the attention it deserves,” World Bank Group President Jim Yong Kim said in a statement.

The institution noted that the development of human capital was key to reducing poverty and boosting economic growth throughout the 20th century, especially in countries in East Asia.

Yet many governments are neglecting human capital, which will be “critical” to succeed in the economy of the future, according to the report.

The authors noted that investing in human capital makes people more productive, flexible and innovative – skills that have become increasingly important as workplaces evolved in response to rapid technological change.

“This index creates a direct line between improving outcomes in health and education, productivity and economic growth,” Kim said.

“I hope that it drives more countries to take urgent action and invest more – and more effectively – in their people.”

By analysing indicators such as child mortality, education rates and health, the World Bank report found that 56 percent of children born around the world this year will reach only half their earning potential.

The survey ranked 157 countries according to how productive their next generation of workers are likely to be.

Chad, South Sudan and Niger were at the bottom of the list, while Singapore, South Korea and Japan came at the top.

Countries that scored 0.5 out of one on the index – meaning they are losing half of their future economic potential – were estimated to lose 1.4 per cent in annual economic growth over 50 years, the report said.

In contrast, if children born in countries like Azerbaijan, Ecuador and Thailand – which all scored 0.6 – were to receive full quality education and healthcare, they would be 40 per cent more productive by the time they entered the workforce.

 

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