Global Solutions, International Partnerships

More than 1.6 billion students worldwide have seen their schools close during the COVID-19 pandemic. The crisis forced schools to move online, which exacerbated inequalities that already existed in education systems. Back in the classroom, teachers have faced the massive task of making up for months of missed learning

This global approach to vaccination will enable social and economic recovery and reduce the chance of a resurgence of the disease. COVAX shows that there is truly strength in unity

The next decades will see growing risks from climate change and extreme weather events, as well as ongoing risks from conflict and the possibility of future pandemics. Achieving resilience in energy, food, education, health and business systems requires urgent investment, not least in making sure that infrastructure is resilient. It requires investment to expand access to quality healthcare and digital services. It requires economic diversification and the mitigation of vulnerabilities arising from high debt and fragile financial systems.

This green growth must also be inclusive, expanding access to basic goods such as clean energy, water and mobility, as well as education and healthcare, to ensure equal opportunities.

Small and medium-sized enterprises (SMEs) appear to be paying the price for limited use of digital technologies. Compared to large firms, only half as many were able to implement remote working and even fewer managed to shift some business online. Some firms will not survive the pandemic, and many of those that do will have to rebuild their finances before they can return to the long-term investment needed to create decent jobs

It is chiefly in the private sector that more jobs—and better jobs—must be created to help eradicate poverty. Businesses need to invest, to expand and to raise productivity, but the pandemic makes that harder. The private sector could potentially take years to recover.

Another is that the rise in poverty triggered by the pandemic is likely to cause more children of very low-income families to drop out of school

One factor is that poorer children are less likely to have access to the internet and less likely to be able to benefit from online classes, if these are provided

The impact of this learning loss will last decades. Not only might it take years for children to catch up with what they have missed, but lost learning may have long-term implications for earnings potential and economic development.

Worse than the immediate economic consequences of the pandemic might be what economists call “scarring”: the damage that could weaken development prospects for years or decades to come