World Bank Warns of Rising Youth Unemployment in Developing Countries

The World Bank has issued a warning that millions of young people in developing countries, including Pakistan, may struggle to find jobs over the next 10 to 15 years.

During its annual meetings held alongside the International Monetary Fund, employment was identified as a major challenge for developing economies. Concerns were also raised about the economic impact of the Middle East situation.

World Bank President Ajay Banga stated that employment is the most effective way to reduce poverty, but opportunities are not growing at the pace required.

The report highlighted that Pakistan’s rapidly growing population could further limit job opportunities. It estimates that around 1.2 billion young people will reach working age in developing countries within the next 10 to 15 years.

The World Bank is expected to provide financial support ranging from 80 to 100 billion dollars to its member countries, emphasizing both immediate relief and long-term economic reforms. It also stressed that increasing private investment is key to sustainable growth.

The report identified five key sectors for job creation: energy and infrastructure, tourism, agriculture and agribusiness, and healthcare—each offering significant potential for employment generation.