Abu Dhabi: The world faces a potential shortfall of nearly 800 million jobs over the next 10 to 15 years, with 1.2 billion young people expected to enter the labour market but only 400 million jobs projected to be created, World Bank Group President Ajay Banga has warned.
Speaking at the plenary session of the 2026 Annual Meetings, Banga emphasised the unprecedented scale of the global employment challenge.
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He warned that persistent geopolitical conflicts, mounting debt burdens, limited fiscal space and rising commodity costs, from energy to fertilisers, were making development increasingly difficult.
Banga said the World Bank had focused on two closely connected priorities over the past three years: maximising the impact of limited financial resources and helping countries create jobs on a large scale.
He stressed that the two challenges could not be addressed separately, underscoring the need to make better use of available funding while expanding employment opportunities.