Human Capital is Key to Reducing Poverty and Boosting Development in Guinea-Bissau

Some of the key findings from the Human Capital Review, a new World Bank report, highlight that strengthening human capital is crucial for reducing poverty and fostering long-term sustainable growth in Guinea-Bissau. Investments in health, nutrition, social protection, and education are key to enabling individuals to reach their full potential as future workers and contribute to the country’s economic growth.  

“The Human Capital Review provides a critical assessment of the current state of human capital in Guinea-Bissau, identifying gaps and offering key insights to inform the government’s development policies and align our operations to the country’s needs,” said Rosa Brito, World Bank Group Resident Representative in Guinea-Bissau. “This study outlines the need for more investments in health, education, and social protection to strengthen human capital in Guinea-Bissau. In response, the World Bank has approved a $20 million project to drive progress in these critical sectors, laying the groundwork for sustainable development and poverty reduction.”

Human capital comprises the knowledge, skills, and health people accumulate over their lives, enabling them to realize their potential as productive members of society. In Guinea-Bissau, cross-cutting constraints such as climate challenges, gender disparities, and fragility hinder the strengthening and preservation of human capital.

Some of the report’s recommendations include improving access to quality health care to decrease the high maternal and neonatal mortality rates; improving nutrition for pregnant women and children under the age of five to prevent negative effects on their physical and cognitive development; expanding access to quality basic education; establishing a social protection system to support the poor and vulnerable population; and developing economic inclusion measures to support unemployed educated youth.

The report also advises Guinea-Bissau to reactivate the National Council for Social Protection to facilitate strong coordination among stakeholders; increase local and community participation in service delivery; and establish a national social registry.

Read and download the report here.

Distributed by APO Group on behalf of The World Bank Group.

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The post Human Capital is Key to Reducing Poverty and Boosting Development in Guinea-Bissau appeared first on Future Media News.