Fifth Human Capital Project (HCP) Conclave within the framework of spring meetings of the World Bank and International Monetary Fund
06/04/2021 17:20
Fifth Human Capital Project (HCP) Conclave within the framework of spring meetings of the World Bank and International Monetary Fund
06/04/2021 17:20
Tashkent, Uzbekistan (UzDaily.com) -- The Minister of Finance of the Republic of Uzbekistan Timur Ishmetov participated in a Human Capital Development Project Conclave, held within the framework of spring meetings of the World Bank and International Monetary Fund.
The meeting was also attended by the World Bnak Group President David Malpass, Vice President for Human Development Mamta Murthy, as well as 36 Finance and Planning Ministers of the countries participating in the project. The main goal of the conclave is to exchange experiences in the field of investment in human capital, social care systems and discuss fiscal measures aimed at ensuring resilient and “green” recovery after the COVID-19 pandemic.
The Human Capital Project is a global effort to accelerate more and better investments in people for greater equity and economic growth. To date, 81 countries at all income levels are working with the World Bank Group on strategic approaches to transform their human capital outcomes.
World Bank Group President David Malpass stressed the importance for countries of investing in human capital, continuing reforms in education and healthcare, ensuring effectiveness of expenses in this direction, while creating fiscal space.
In his report, Timur Ishmetov noted that in 2017, the Government of Uzbekistan launched an ambitious economic and social transformation program in 2017 to move Uzbekistan towards an open and private-sector led market economy. One of the most important investments it is making as part of the transformation is to redesign the systems for public service delivery – to improve the quality, reliability, and resilience of public services. One of the earliest decisions taken by the government since the start of the reforms has been to overhaul the social protection system in close collaboration with the World Bank, UN agencies and other international organizations
In particular, the launch of the Single Registry of Social Protection, developed developed in close collaboration with UNICEF and World Bank in 2019, was noted. Initially, the Social Register was piloted in the Syrdarya region and introduced throughout the country in September 2020. The Social Register is being further improved. This new digital system integrates databases of more than 20 ministries and agencies and addresses targeting and coverage gaps in social assistance.
It was also emphasized that To build a resilient social protection system and ensure social inclusion, in February this year the Concept of National Strategy for Social Protection of the Population in 2021-2030 was approved. The concept was developed with the close assistance from the ILO, World Bank, UNICEF.
Also during the meeting, representatives of Egypt, Kenya, Saudi Arabia, the Philippines, Indonesia and Bahrain made reports on measures in the field of human capital development and social protection of the population.
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