World Bank convenes groups for reconstruction of Gaza, Ukraine

The World Bank has announced that it has assembled teams of experts to plan the reconstruction of Gaza and Ukraine once hostilities with Israel and Russia end.

The World Bank Group President, Ajay Banga, disclosed this on Friday in Washington during the 2025 Annual Meetings Plenary.

Banga said the move reflects the Bank’s commitment to rebuilding conflict zones and preparing for peace. “As we hope for peace, we must also prepare for it, drawing on regional specialists from both the public and private sectors. The Gaza group is now coordinating with partners active in the region. Reconstruction is an essential part of our mandate,” he said.

He added that the World Bank remains focused not only on rebuilding but also on preventing conflict and creating conditions for opportunity and stability.

Speaking on global development, Banga highlighted the growing population in developing countries and the challenges it poses for job creation. “By 2050, more than 85 per cent of the world’s population will live in countries we call developing today,” he said.

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He noted that 1.2 billion young people would enter the workforce within the next 10 to 15 years, competing for only about 400 million jobs, with Africa seeing the fastest growth.

“Nigeria’s population will rise by about 130 million, making it one of the world’s most populous nations,” Banga said, adding that young people’s energy and innovation could power global growth if properly harnessed.

He emphasised that creating jobs must remain central to global development and stability efforts, describing employment as “the anchor that holds families steady and the glue that keeps societies together.”

(NAN) 

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