Finance Minister participates in World Bank’s virtual meeting on investment in human capital

Manama, Oct. 9 (BNA): Finance and National Economy Minister, Shaikh Salman bin Khalifa Al Khalifa, has participated in the virtual meeting held by the World Bank on “Investing in Human Capital in the Time of COVID-19”. The meeting stressed the importance of continuing to invest in the human capital by refining human energies with the skills necessary to achieve the highest levels of productivity as one of the basic requirements to support economies and global stability in general, especially in light of the current conditions facing the world due to the repercussions of the novel Coronavirus (COVID-19) pandemic in a way that would contribute to achieving financial sustainability and economic growth. The meeting also urged member states to achieve optimal utilisation of available resources, and prioritise spending in a way that achieves the interests of individuals. It also focused on the need for an integrated approach that includes coordination with all sectors related to investment in human capital, such as health and education, through expanding the financial space for health care, creating more educational opportunities in a way that contributes to qualifying youth for future jobs and enhancing competencies to accelerate the pace of development. It is to be noted that World Bank’s “Human Capital Index 2020” ranked Bahrain as the second top destination in the Arab world to invest in human capital. The Human Capital Index 2020 measures potential productivity in the health and education sectors across 98% of the world’s population – with a focus on the knowledge, skills and health that a child born today is expected to accumulate by their 18th birthday. Bahrain scored 0.65 points, up more than 8 percent from its 0.60 ranking based on the same factors 2010 – four times the global average. According to the report, Bahrain performed particularly well in the field of education, ranking first among the GCC countries for academic achievement, and among the top five countries globally for the performance of girls over boys in education. Bahrain’s ranking in the Human Capital Index 2020 proves its wide-ranging economic reforms as well as years of investment in education and healthcare, ensuring that children born today are fully empowered to achieve their potential. During the meeting, the participants exchanged experiences and plans aimed at investing in human capital. They also discussed all initiatives that would contribute to supporting economic growth effectively