Human Capital Ministerial Conclave: Equipping Young Women and Men for a Fast-Changing World

In a world increasingly shaped by digital technology, climate change, and fragility, today’s youth are navigating complex new challenges and opportunities. Equipping them with the skills to adapt and thrive in a fast-changing environment has become a pressing priority for governments. The Human Capital Ministerial Conclave at the 2024 World Bank Group’s Annual Meetings highlighted how countries can support youth in developing these essential skills while ensuring that both young women and men are prepared to succeed and lead in the jobs of the future.

The latest Conclave brought together influential voices from the private sector, academia, civil society, and ministers from the World Bank’s Human Capital Network. Hosted by the Human Capital Project, the network is a growing global initiative dedicated to accelerating investments in people and fostering the exchange of knowledge and experiences across its 95 member countries.

The event opened with an insightful panel featuring Rukmini Banerji, CEO of Pratham Education Foundation; Brent Roberts, Professor of Psychology at University of Illinois-Urbana Champaign; and Mossadeck Bally, Founder of the Azalaï Hotels Group in West Africa. Together, they discussed the skills employers seek and explored how countries can strengthen their education and skills development systems to better prepare young people for jobs.

Banerji stressed the critical need for continued investment in literacy and numeracy as foundational skills, along with supporting students in learning to apply these skills as they progress through school. She also drew attention to digital literacy, which is much needed to access practical information in the digital world.

Roberts pointed out that essential skills like teamwork, emotion regulation, time management, leadership, and innovation are vital for young people to effectively apply their foundational learning in the workplace. Young adults are at an ideal stage to develop and practice these skills, which require sustained investment from both individuals and institutions. He also noted that there are no gender differences in these skills.

Speaking from the services industry, Bally emphasized the importance of both technical and “soft skills”— highlighting problem-solving, adaptability, communication, and proactivity as crucial for success. He noted that governments need to invest in both basic education and TVET, with public-private partnerships playing an important role in linking youth with jobs.

The panelists' insights were echoed by Ekaterine Guntsadze, Georgia’s Deputy Minister of Finance, and Kaba Nialé, Côte d'Ivoire’s Minister of Economy, Planning, and Development. A project in Côte d'Ivoire also illustrated how education and skills training are unlocking the full potential of young women.

Roya Mahboob, Founder and CEO of Digital Citizen Fund, showcased her organization's work in supporting women's entrepreneurship and fostering digital and financial literacy for Afghan women and girls by creating IT centers in public schools. She pointed out that if a small NGO can make a significant impact, concerted efforts backed by government resources could drive even more transformative change.

The World Bank's Managing Director of Operations, Anna Bjerde, stressed the urgency of closing the opportunity gap between young women and men. She highlighted the World Bank Group’s new Gender Strategy and its concrete targets aimed at boosting women’s economic opportunities. The targets—focused on use of broadband, social protection, and access to capital— will help expand and enable women’s participation in the global economy.  

Biman Prasad, Fiji’s Deputy Prime Minister and Minister for Finance, Strategic Planning, National Development and Statistics, and Faisal bin Fadhil, Al-Ibrahim, Minister of Economy and Planning for the Kingdom of Saudi Arabia shared their countries’ efforts to promote gender equality in the labor market. Providing childcare, ensuring wage transparency, and shifting corporate cultural norms are all key to creating a more level playing field for women and men.

The Human Capital Ministerial Conclave underscored the World Bank Group’s long-term commitment to helping countries protect and invest in their people. Inclusive human capital investments enable all individuals – both women and men – to learn, work, create businesses, and live with productivity and dignity, contributing to more prosperous, resilient, and equitable societies.  As part of its efforts, the World Bank Group is working to help countries cut Learning Poverty in half, provide quality, affordable health services to 1.5 billion people, and expand its social protection programs to reach at least 500 million people – including half of those to be women and girls— by 2030.