In his concluding address at the Annual Meetings in Bangkok, World Bank Group President Ajay Banga warned that about 1.2 billion young people will enter job markets over the next 10 to 15 years while only about 400 million jobs are expected — a gap of roughly 800 million.

His strategy rests on three pillars: physical and human infrastructure, policy and regulatory certainty, and mobilising private capital. Private capital mobilised rose from about $35 billion in FY22 to $112 billion last year.

He added that project preparation time has been cut from 19 months to nine, and called for an emerging-market development asset class.

Source: The Business Standard and other published reports — rewritten in our own words.