The Wellspring

After following the long consultative and developmental process, I missed the launch of the World Bank’s World Development Report (WDR) 2007 (oops!), which took place at the Bank’s annual meeting in mid-September in Singapore, and is, this year, entitled Development and the Next Generation.

The Bank’s annual Development Reports, which analyse the economic, social and environmental state of the world today, are perhaps the Bank’s best-known contributions to thinking about development. Each year the WDR provides in-depth analysis of a specific aspect of development. Past reports have considered such topics as the role of the state, transition economies, labor, infrastructure, health, the environment, and poverty.

Themed around young people, this year’s report argues that developing countries which invest in better education, healthcare, and job training for their young people between the ages of 12 and 24 years can produce surging economic growth and sharply reduce poverty.

With 1.3 billion young people now living in the developing world - the largest-ever youth group in history - the report says there has never been a better time to invest in youth because they are healthier and better educated than previous generations, and will join the workforce with fewer dependants because of changing demographics. However, failure to seize this opportunity to train them more effectively for the workplace and to be active citizens could lead to widespread disillusionment and growing social tension.

For further information, and to download abridged or full versions of the report, see the official website at http://www.worldbank.org/wdr2007/.