Washington: The World Bank has announced the convening of expert groups to strategize the reconstruction of Gaza following the end of hostilities with Israel, as well as Ukraine. This initiative was revealed by World Bank Group President, Ajay Banga, during the 2025 Annual Meetings Plenary held in Washington.
According to News Agency of Nigeria, Banga highlighted the recent developments in Syria and Gaza as indicators that peace is attainable even in regions beset by conflict, including the Democratic Republic of the Congo, Sudan, Ukraine, Yemen, and other areas. Banga emphasized the need to be prepared for peace by engaging regional specialists from both public and private sectors. The Gaza group, in particular, is collaborating with regional partners, making reconstruction a critical component of the World Bank’s mission.
Banga asserted that the World Bank, as an institution focused on development, is equally dedicated to preventing conflicts. He stressed the importance of not only rebuilding lost structures but also fostering conditions conducive to opportunity and stability. He noted the significant demographic changes occurring globally, with projections indicating that by 2050, more than 85% of the world’s population will reside in what are currently classified as developing countries.
Banga drew attention to the impending influx of 1.2 billion young people into the workforce within the next 10 to 15 years, competing for an estimated 400 million jobs. This scenario, he pointed out, creates a substantial gap. He mentioned that four young individuals will enter the global workforce every second over the next decade, emphasizing the urgency of addressing this demographic challenge.
Africa’s population growth was underscored by Banga, who stated that by 2050, one in four people will live on the continent. He cited Zambia’s projected annual population increase of 700,000 and Mozambique’s expected doubling of its population. Nigeria, he added, would see its population expand by about 130 million, solidifying its status as one of the world’s most populous countries.
Banga emphasized the role of young people in shaping the future, noting that with the right investments focused on opportunity rather than need, the World Bank could harness their potential as a powerful driver of global growth. He warned that without deliberate efforts, the optimism of young people could turn to despair, leading to instability, unrest, and mass migration, with far-reaching consequences for every region and economy.
Jobs, Banga stated, must be central to any development, economic, or national security strategy. He described a job as more than just a paycheck, but as a means for individuals to pursue their aspirations, embodying purpose and dignity. He portrayed jobs as the anchor for families and the glue for societal cohesion, representing a direct path to stability and progress that is difficult to reverse once attained.
Concluding his remarks, Banga explained that the World Bank has redefined its approach, metrics, and delivery methods to align with these realities, underscoring the critical importance of employment in global development strategies.