The Private Sector Pathway to More and Better Jobs
As leaders gather in Washington, DC for this year’s The World Bank Group - International Monetary Fund Spring Meetings, creating more and better jobs will be front and center of the agenda.
The challenge is urgent: in the next decade, 1.2 billion young people in emerging markets will reach working age, and only 420 million jobs are expected to be generated. How do we meet the employment aspirations of the developing world's fast-growing youth population?
In this issue of IFC Insights, we explore private sector solutions. In Kenya, where unemployment is worryingly high, we show how textile manufacturer Royal Apparel has grown its business from 225 workers in 2010 to 5,800 today, 70 percent of whom are women. And with IFC’s $15 million investment to expand production, 4,500 more jobs are in the pipeline.
In Bangladesh, our latest country private sector diagnostic report identifies four sectors showing great promise for jobs growth: garments, housing, paint and dyes, and digital financial services. And in our latest Emerging Markets Insights article, we explore another sector with big potential, both to create jobs and clean up the environment—plastics recycling. As the number of recycling mandates and targets grows, new IFC research estimates that there is a $50 billion investment opportunity awaiting in emerging markets.
And if we deliver on jobs, we deliver on the World Bank Group’s core mandate because, as our President Ajay Banga puts it, “jobs is the best way to drive a nail in the coffin of poverty.”
-- The Editors
The Spring Meetings bring together leaders from government, private sector, civil society, and academia to explore solutions to tackle global challenges head-on. Be part of the action—watch the livestream in English, العربية, Español, and Français and join the conversation on social media using the hashtag #WBGMeetings.
With 1.2 billion young people in emerging economies reaching working age over the next decade—and only about 420 million jobs expected to be generated—the urgency of finding scalable and sustainable solutions has never been greater. Watch this event live on April 22 at 2:00PM ET in English, العربية, Español, and Français.
Jobs are the most effective pathway out of poverty—providing income, dignity, and purpose while empowering women, engaging youth, and strengthening communities. Read more | Lire l’article en français | Leer en Español | للمزيد
An investment in one of Kenya's leading textile exporters is helping to grow operations, including a new fabric mill which is expected to create 4,500 new jobs. Read more
Listen to the audio story here:
The developing world is home to the next generation of workers, entrepreneurs, and innovators. In this Financial Times op-ed, World Bank Group President Ajay Banga highlights our strategic approach to fostering global economic growth via private sector investment, job creation, and robust infrastructure. Read more I Lire l’article en français | Leer en Español | للمزيد
Cities are economic powerhouses—but too often, they’re held back by lack of finance. In this new IFC Audio Stories episode, hear how IFC is working with municipalities to fund key infrastructure, improve services, and create jobs—from Mongolia to Brazil.
NEW RESEARCH
This report analyzes four sectors in Bangladesh—Green Ready-made Garments (RMG), Housing for Middle-Income Households, Paint and Dyes, and Digital Financial Services—with potential to attract private investment and create jobs if policy reforms are taken. Read more
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Demand for recycled plastic is set to rise in the coming years, opening opportunities for recyclers, particularly in emerging markets. Read more
WHAT'S ON THE HORIZON
Attend these events:
Location: Washington DC, USA | Event Date: April 21–26
Location: London, UK | Event Date: April 29–30
Location: Los Angeles, USA | Event Date: May 4–7
Location: Washington DC, USA | Event Date: May 7–8
Location: Abidjan, Côte d’Ivoire | Event Date: May 12–13
Location: Washington DC, USA | Event Date: May 19–20
JOB OPENINGS
To learn more about jobs at IFC, visit www.ifc.org/careers and sign up for our “job alerts” to receive job opportunities in real time. Here are some of the openings:
Location: Johannesburg, South Africa | Deadline: April 24
Location: Washington DC, USA | Deadline: April 24
Location: Kyiv, Ukraine | Deadline: April 30
Location: Washington, DC, USA; Sofia, Bulgaria | Deadline: May 1
Location: Vienna, Austria | Deadline: May 8
Thank you for reading IFC Insights. Send your feedback to ifc_insights@ifc.org.
IFC INSIGHTS EDITORIAL TEAM
Berrin Özdemir Akyıldız , Brian Beary , Lee-Roy Chetty , Moussoukoro Diop , Dr. Bukola Ogunyemi , Isabelle Poupaert , Nataliya Radchenko , Daisy Serem , Gavin Thorpe , Vinit Tyagi , and Chris Vellacott .
Manager, Development Impact at FSD Africa
1wGood to see the focus on sectors like garments, housing, and plastics recycling- given their potential for scale—but an equally important question is whether these sectors are generating quality jobs with dignity, fair wages, and upward mobility. In many emerging markets, the garment sector, for instance, often offers employment that is low-paying and precarious. What strategies are being considered to ensure that job growth in these sectors goes hand-in-hand with improved working conditions, labor protections, and pathways to skills development?
Chartered Accountant | Insolvency Professional | Let's Connect to Empower Your Business!
1wAnd if we deliver on jobs, we deliver on the World Bank Group’s core mandate because, as our President Ajay Banga puts it, “jobs is the best way to drive a nail in the coffin of poverty.” This observation is highly valuable as job creations builds the nation. As a Finance Professional having 25 years+ experience in core infrastructure projects in Inida like Airports , Transport sector and Power Projects would be happy to get associated with any of the initiatives by IFC, IMF World Bank ADB in these sectors.
Chartered Accountant at G.Satapathy and Company, Chartered Accountants
1wThanks for sharing
Director
1w"I submitted a proposal to the IFC office in Papua New Guinea focused on establishing essential maritime infrastructure to stimulate job creation and enhance economic growth. Although the initiative aimed to optimize agricultural logistics by connecting villages to markets, the IFC declined support, noting that maritime transportation falls outside their core priorities."
Accounting & Finance | xRECL
1wPrioritizing labor market scalability in demographically dynamic regions is a strategic imperative. Catalyzing private capital into high-multiplier sectors reflects a sophisticated alignment of developmental finance with structural transformation. Embedding employment generation within green industrial frameworks exemplifies an integrated approach to resilience, equity, and macroeconomic stability