The COVID-19 pandemic threatens hard-won gains in health and education over the past decade, especially in the poorest countries, a new World Bank Group analysis finds. Investments in human capital—the knowledge, skills, and health that people accumulate over their lives—are key to unlocking a child’s potential and to improving economic growth in every country, IPN reports, quoting the analysis.
The World Bank Group’s 2020 Human Capital Index includes health and education data for 174 countries – covering 98 percent of the world’s population – up to March 2020, providing a pre-pandemic baseline on the health and education of children.
“Amid the pandemic, protecting and investing in people is more vital than ever, as this can lay the foundation for sustainable, inclusive recoveries and future growth,” said World Bank Group President David Malpass.” The pandemic makes clear the importance of strong healthcare systems, resilient and flexible education systems, and social protection programs that provide help to those in need.”
In Moldova, a child born today can only expect to achieve 58 percent of the productivity of a fully educated adult in optimal health. This score is lower than the average for Europe & Central Asia region but higher than the average for lower middle-income countries. Within the last decade, the HCI value of Moldova has increased slightly from 0.56 to 0.58 thanks to investment in education, social protection and health care.
The World Bank is helping Moldova achieve this goal, including by providing emergency support for a better response to the COVID-19 pandemic. In the health sector, the World Bank is helping to address the non-communicable disease burden and improving the efficiency and quality of care provided in hospitals, as well as strengthening the government’s COVID response through financing emergency equipment and supplies. This is complemented by measures to mitigate the economic impact of the COVID crisis through redesigning and expanding the Ajutor Social program to reach more poor and near-poor families and permanently increasing the benefit generosity for families with children.
In education, the World Bank supports the strengthening of both basic education and higher education to help secure Moldovans good jobs at home rather than having to seek employment opportunities abroad.
On-going World Bank-supported projects to enhance human development in Moldova total US$185 million, including grant financing from the Swiss Agency for Development and Cooperation and the Pandemic Emergency Financing Facility.
