The United Nations Development Programme launches two global initiatives to stimulate investment and create jobs.
- The UNDP launches two initiatives to boost investment and job creation.
- The Investment Accelerator focuses on legal reforms and financial infrastructure development.
- The Jobs Facility for Prosperity aims to address an estimated 800 million job gap.
- UNDP warns of rising poverty and economic pressures affecting developing countries.
UN Development Program Launches Global Initiatives to Stimulate Investment and Create Jobs
The United Nations Development Program (UNDP) has announced the launch of two global initiatives aimed at stimulating investment and creating job opportunities. This announcement comes amid predictions that 1.2 billion young people will enter the labor market over the next 15 years, while only approximately 400 million jobs will be available.
Investment Accelerator
UNDP Administrator Alexander De Croo explained that the first initiative, the Investment Accelerator, focuses on:
- Legal reforms
- Developing financial infrastructure
- Assisting governments in preparing, structuring, and ensuring the implementation of investable projects
Jobs Facility for Prosperity
The second initiative, the Jobs Facility for Prosperity, aims to:
- Support policies and sectors capable of creating jobs
- Provide the necessary funding to bridge a global gap estimated at 800 million jobs over the next 15 years
Warnings of Rising Poverty and Economic Pressures on Developing Countries
De Croo emphasized that job creation represents a sustainable path to reducing poverty. He noted that many economies vary in their ability to withstand shocks.
He pointed out that developing countries face simultaneous pressures from:
- Rising energy costs
- The impacts of the El Niño phenomenon
- Increased borrowing costs, explaining that they spend an average of 9.5% of their government revenues on debt interest.
De Croo also highlighted that the latest update of the Multidimensional Poverty Index recorded a global increase for the first time since its measurement began, considering the results a wake-up call for international action.
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