Solutions for the developing world will come from the developing world
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Transcript of Solutions for the developing world will come from the developing world
Mary MaierFinal project, December 2015Financing for development: Billions to Trillions to ActionWorld Bank Group
SOLUTIONS FOR THEDEVELOPING WORLDWILL COME FROMTHE DEVELOPING WORLD
IF THE SUSTAINABLE DEVELOPMENT GOALS IN AFRICA ARE TO BE MET …
• Youth unemployment will have to be addressed
• This graph shows the high levels of youth unemployment in Africa
WHAT HAPPENS WHEN WE EDUCATE WOMEN/GIRLS
• They earn more money
• They marry later (on average 4 years later) and have 2.2 fewer children
• They keep their family healthy. Educated mothers are more likely to immunize their children, HIV rates decline, less malnourished children
• They break the cycle of poverty as when women earn income they reinvest 90% back into their
families (men on average invest 30-40%)
• When 10% more girls go to school, the country's GDP increases on average by 3%
WHAT IS THE SOLUTION? HOW CAN WE HELP?
• In order to decrease youth unemployment, the following will be needed:
! Access to education
! Resources (computers, books, schools)
! Technical assistance
! Internships, entrepreneurial initiatives
! Funding
HOW WILL WE FINANCE THIS?
• Perhaps in a variety of innovative financial ways:
! By creating a Youth Bond similar to green bonds, pandemic bonds
! Recommending pension funds and other institutional funds invest in the Youth Bond
! By the issuance of Diaspora Bonds – the world bank has estimated that they could raise $5-$10 billion in Sub-Saharan Africa annually (source: McKinsey & Company)
! By stimulating private sector flows with guarantees from the public sector
! Crowdfunding
! By taxing certain industries eg. the fashion Industry which has revenues of approximately $1,3 trillion per annum
! By using FACEBOOK to promote awareness and to create funding groups
BY ERADICATING YOUTH UNEMPLOYMENT IN AFRICATHROUGH EDUCATION, MANY SUSTAINABLE
DEVELOPMENT GOALS WILL BE ACHIEVED
• Poverty will be reduced
• There will be less hunger
• There will be better health and well-being
• There will be quality education
• Better gender equality
• There will be decent work and economic growth
• Strong partnerships will have been formed
IN CONCLUSION
• The youth are the future drivers of economic growth in Africa
• Emphasis should be put on educating African women/girls
• Economic growth leads to human development
• Growth in Africa will impact the global economy positively
• There are many investment opportunities in Africa for the private and public sector