The World Bank has emphasised that job creation remains central to reducing poverty, fostering stability, and generating local economic opportunities, even as countries navigate global economic turbulence.
In a recent blog post, the Bank noted that 2025 presents multiple challenges, including ongoing conflicts, economic uncertainty, and extreme weather events. However, it said developing economies have shown resilience beyond expectations.
Despite rising debt service obligations, slowing global growth, and persistent trade frictions, global growth is projected to reach 2.7 per cent this year.
“Jobs are not only the surest path out of poverty but also provide dignity, hope, and stability,” said Ajay Banga, President of the World Bank Group.
“Our ultimate goal is to help countries build dynamic private sectors that convert growth into local jobs, not by shifting work from developed countries, but by unlocking opportunities where people already live,” he added.
The Bank highlighted that over the next decade, about 1.2 billion young people in developing countries are expected to enter the workforce. It warned that failure to create sufficient employment opportunities could lead to instability, unrest, and mass migration.
To address this challenge, the World Bank said it is prioritising sectors with high employment potential. These include infrastructure, energy, agribusiness, health care, tourism, and manufacturing.
One of its major initiatives is Mission 300, launched in partnership with the African Development Bank. The initiative aims to connect 300 million Africans to electricity by 2030, with the goal of boosting productivity and stimulating job creation across the continent.
By directly linking economic growth to employment generation, the World Bank said it aims to ensure development remains inclusive and sustainable. The strategy, it noted, is designed to support communities while laying the foundation for long-term prosperity.
