BALI, Indonesia, Oct 11, 2018 (BSS) – Bangladesh performed better than the
South Asian average as well as the Lower Middle-Income average in all
criteria, said a World Bank (WB) research.
The research on Human Capital Index, launched today at the World Bank-IMF
Annual Meetings, showed that 56 percent of children born today across the
world will lose more than half their potential lifetime earnings because
governments are not currently making effective investments in their people to
ensure a healthy, educated, and resilient population ready for the workplace
of the future.
At his remark on the report, Finance Minister AMA Muhith said over the
last decade, the government has consistently improved human capital and
created better opportunities for Bangladesh population.
“From independence in 1971, the country has come a long way. We have
reduced child and maternal mortality, and the fertility rate. Bangladesh is
among the few developing countries to achieve gender parity in school
enrollment. This progress is captured in the Human Capital Index,” he added.
World Bank Group President Jim Yong Kim said “For the poorest people, human
capital is often the only capital they have”.
“Human capital is a key driver of sustainable, inclusive economic growth,
but investing in health and education has not gotten the attention it
deserves. This index creates a direct line between improving outcomes in
health and education, productivity, and economic growth. I hope that it
drives countries to take urgent action and invest more – and more effectively
– in their people,” he added.
Kim said the bar is rising for everyone. “Building human capital is
critical for all countries, at all income levels, to compete in the economy
of the future,” he added.
“Bangladesh’s strong track record of poverty reduction and development
shows that with the right policies and actions, further progress is
possible,” said World Bank Country Director for Bangladesh, Bhutan, and Nepal
Qimiao Fan.
In Bangladesh, the research said, 97 percent of children are likely to
survive to age 5, and about 87 percent of 15-year olds are likely to survive
to age 60.
“Further, a child who starts school at the age of 4 will complete
schooling by her 18th birthday. The country performs well in gender equity. A
girl has higher human capital than a boy. But, with about 36 percent children
stunted, there is no room for complacency,” the research added.
As per the research, the HCI reflects the productivity as a future worker
of a child born today, compared with what it could be if he or she had full
health and complete high-quality education, on a scale from zero to one, with
1 as the best possible score.
In Bangladesh, a child who starts school at the age of four can expect to
complete 11 years of school by his or her 18th birthday. Students in
Bangladesh scored 368 on a scale where 625 represents advanced attainment and
300 represents minimum attainment.
Factoring in what children actually learn, expected years of schooling is
only 6.5.
Across Bangladesh, 87 percent of 15-year olds will survive until the age
of 60. This statistic is a proxy for the range of fatal and non-fatal health
outcomes that a child born today would experience as an adult under current
conditions.
Around 64 out of 100 children are not stunted, but the rest are at risk of
cognitive and physical limitations that can last a lifetime.
In India, 83 percent of 15-year olds will survive until the age of 60.
Compared to India, this is slightly higher in Pakistan – 84 percent – while
the rate is 85 percent in Nepal.
The World Bank report also revealed that in Bangladesh, the HCI for girls
is higher than for boys.