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It is necessary to promote entrepreneurship in the face of youth unemployment: World Bank

Mexico City. Over the next decade, 1.2 billion young people living in emerging and developing countries will reach working age. However, only 400 million jobs will be created, so it is necessary to boost entrepreneurship, said Ajay Banga, president of the World Bank.

Within the framework of the 2024 Annual Meetings of the IMF and the World Bank Group, which are taking place in Washington, Banga commented that the alternative of not having a job is very bad for women and young people and that entrepreneurship is an opportunity for occupy oneself with dignity.

“All jobs are good because they give us dignity and the ability to earn money. Some jobs are better. When you go up a ladder, you have to hold on to it to climb the different steps, so we have to be careful not to prejudge,” he commented in the conversation “Jobs for young people.”

Ajay Banga referred to the possibility of starting a business with financing.

“There is the issue of financing for women and female entrepreneurship, women give each other opportunities to have productive employment in society and in the system,” she mentioned.

However, the president of the World Bank mentioned that countries need to generate an enabling environment and create human capital and infrastructure so that the private sector and mainly small and medium-sized companies generate more employment.

In her turn, Michelle Bachelet, former president of Chile, assured that it is necessary to understand and identify that the obstacles that young people face in obtaining employment are not the same in all countries and that the situation varies between regions, so we must look for innovative ways for them to find job opportunities.

“We have to think about the way in which low-skilled people can improve their abilities, skills and abilities, and support the quality of education for children who have not had much schooling, supporting them to have higher education and more opportunities,” he stated. .

For his part, Tharman Shanmugaratnam, president of Singapore, stated that the digital challenge, artificial intelligence and decarbonization in different sectors of the economy can represent opportunities to generate new jobs.

“Globalization is still ‘alive and well’, only that it has been reorganized in a new global context and at this juncture it is necessary to consider what countries can do to insert themselves and enter into that learning process,” he said.

In addition, he referred to childhood and the children of the world who lack adequate nutrition.

“30 percent of children in low-income countries have low physical growth, a quarter of those who live in middle-income and low-income countries also have low physical growth, so we have to think about everything. a nation, which may be subject to a reduction in its potential due to lack of nutrition,” he commented.

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