Anna Bjerde on Why Investing in Social Protection Is So Important

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00:03 Well,

00:04 social protection as we know it was born out of war and crisis,

00:08 notably the social misery of German workers at the end of the 19th century,

00:13 the Great Depression,

00:14 and the Second World War.

00:16 Today,

00:17 the consequences of a pandemic

00:19 and war

00:20 continue to highlight the fact that individuals'

00:22 own actions and investments are not necessarily enough

00:26 to protect against joblessness,

00:27 sickness,

00:28 po.

00:29 Poverty

00:29 and to underscore the need for protection against

00:32 shocks and periods of dependency on others,

00:35 we have also come to realize that in this

00:38 fast and radically changing world

00:40 we need support and opportunities for lifelong learning

00:44 and in accessing new jobs

00:47 to find the right way,

00:48 cash transfers and other social protection programs

00:51 can provide the support

00:53 and opportunity.

00:55 Social protection plays a dual role in a

00:57 time of high uncertainty and rapid technological change,

01:01 including the green transition.

01:03 Social protection protects people and families

01:06 against risks and supports individual citizens,

01:09 risk taking,

01:10 such as to start a business or pursue retraining for a better job.

01:15 Well designed active labor market policies such as retraining

01:19 are a good example of a social protection measure

01:23 that benefits people,

01:25 firms,

01:25 and ultimately government

01:27 by stopping the unemployed and those

01:29 with obsolete skills from falling into dependency

01:33 and ultimately poverty.

01:38 The pandemic revealed fundamental shortcomings in the design

01:41 and implementation of today's social protection programs.

01:45 Many governments in the Europe and Central Asia region

01:48 did not have the information,

01:50 tools,

01:50 legal frameworks,

01:51 or even administrative capacity to quickly

01:54 scale up their programs

01:56 to financially support the families

01:58 most in need.

02:00 The pandemic has actually provided important lessons for

02:03 how to modernize and reform social protection systems.

02:07 The use of technology,

02:08 for example,

02:09 for getting support to families quickly,

02:12 simple but fair assessments of families' means and needs,

02:15 and investments in skills and childcare are among the solutions with which

02:19 the World Bank stands ready to help countries prepare for the future.

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Well, social protection as we know it was born out of war and crisis, notably the social misery of German workers at the end of the 19th century, the Great Depression, and the Second World War. Today, the consequences of a pandemic and war continue to highlight the fact that individuals' own actions and investments are not necessarily enough to protect against joblessness, sickness, po. Poverty and to underscore the need for protection against shocks and periods of dependency on others, we have also come to realize that in this fast and radically changing world we need support and opportunities for lifelong learning and in accessing new jobs to find the right way, cash transfers and other social protection programs can provide the support and opportunity. Social protection plays a dual role in a time of high uncertainty and rapid technological change, including the green transition. Social protection protects people and families against risks and supports individual citizens, risk taking, such as to start a business or pursue retraining for a better job. Well designed active labor market policies such as retraining are a good example of a social protection measure that benefits people, firms, and ultimately government by stopping the unemployed and those with obsolete skills from falling into dependency and ultimately poverty. The pandemic revealed fundamental shortcomings in the design and implementation of today's social protection programs. Many governments in the Europe and Central Asia region did not have the information, tools, legal frameworks, or even administrative capacity to quickly scale up their programs to financially support the families most in need. The pandemic has actually provided important lessons for how to modernize and reform social protection systems. The use of technology, for example, for getting support to families quickly, simple but fair assessments of families' means and needs, and investments in skills and childcare are among the solutions with which the World Bank stands ready to help countries prepare for the future.

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Social Protection Dec2022 Full With Subtitles V2

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Social Protection Dec2022 Full With Subtitles V2

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