World Bank, partners agree closer collaboration to track job creation efforts
Omeiza Bilal
The World Bank and other Multilateral Development Banks (MDBs) have agreed to closer collaboration on a common approach to measuring the impact of our operations on creating more and better jobs.
To achieve this, the Bank said in a statement, that it will deepen coordination and partnership across countries, MDBs, the private sector, and other stakeholders.
“The work will be iterative and refined by MDBs based on lessons learned, individual mandates, and latest best practice. This process will also be informed by dialogue with stakeholders, including the International Labour Organization (ILO), to ensure that discussions reflect the quality of jobs created.
“Our goal is to advance our collective understanding of the best pathways for job creation and workers’ earnings in each region and context, to help drive growth and improve livelihoods in our countries of operation.
“Creating more and better jobs lifts households out of poverty, improves social cohesion and reduces vulnerability. The quality of jobs is an essential dimension of this effort. Our collaboration will help support better policy dialogue and stronger project design, to deliver more and better jobs,” the statement read.
The Multilateral Development Banks are: AfDB: African Development Bank, ADB: Asian Development Bank, AIIB: Asian Infrastructure Investment Bank, CDB: Caribbean Development Bank, CEB: Council of Europe Development Bank, EBRD: European Bank for Reconstruction and Development, EIB: European Investment Bank, IDB Group: Inter-American Development Bank Group, IsDB: Islamic Development Bank, NDB: New Development Bank, and WBG: World Bank Group.
