Anna Bjerde, the World Bank's Managing Director of Operations, addressed attendees at the Labor Mobility South Asia Conference held in Bhutan. She expressed gratitude to the Royal Government of Bhutan for co-organizing the event and emphasized Bhutan's commitment to building a future driven by innovation and opportunity.
Bjerde highlighted that job creation is central to the World Bank's mission to eliminate poverty. "South Asia’s population, aged 15 and above, will grow by 110 million people over the next five years—about 22 million people per year," she noted. This growth presents both an opportunity and a challenge, as these individuals will need employment.
She pointed out that South Asia faces challenges with its working-age population. "South Asia is the only region where the share of working-age men who are employed fell over the past two decades," Bjerde stated. Female labor participation is also low compared to other regions.
Bjerde proposed that increasing female labor participation could significantly boost regional incomes. However, she stressed that creating jobs requires removing constraints on private sector growth, such as regulatory barriers and limited access to credit.
The conference aimed to discuss how governments can leverage their diasporas for economic development and job creation. Bjerde observed that many young South Asians seek opportunities abroad due to limited prospects at home but acknowledged that diasporas contribute through remittances, knowledge, entrepreneurship, investment, and trade.
"This conference is the first step to harnessing South Asia’s diaspora for prosperity at home," she concluded, emphasizing collective efforts in addressing these challenges.