The Human Capital Umbrella Trust Fund Program, launched in 2019 with support from the Gates Foundation and the Government of Canada, catalyzes investments in people through a comprehensive, evidence-based approach. Since its inception, activities funded by the Umbrella Program have informed 29 World Bank-financed operations, totaling more than $8.5 billion in lending. Working across sectors and government agencies, the program drives lasting social and economic transformation through three key pillars: knowledge and measurement, country engagement, and global collaboration.

Human capital — knowledge, skills, and good health — plays a critical role in job creation and economic prosperity. Two-thirds of the income gap between developed and developing countries can be attributed to disparities in human capital. Healthy, skilled, and innovative people are better equipped to seize job opportunities, create businesses that generate jobs, and drive economic growth.

On October 24, 2024, 33 countries joined the Annual Meetings Human Capital Ministerial Conclave to discuss how to equip young women and men with the skills to build resilience and thrive in a fast-changing world and boost women’s economic opportunities and leadership. Young people today need a toolkit of skills for work and life that includes basic literacy and numeracy; digital skills; and social, emotional, and behavioral skills. Investing in skills can expand opportunities for young women and accelerate equality.

Supported by the Bill & Melinda Gates Foundation and Government of Canada, the Human Capital Umbrella Program serves as a catalyst for accelerating investments in people. The Program continued to advance its work through a whole-of-government approach to support evidence-based initiatives across sectors to foster lasting social and economic transformation. Through analytical work and strategic initiatives, the program influences project design and implementation to effectively advance human capital outcomes. 

Climate change is a direct threat to human capital. At the same time, human capital empowers people to advocate for climate action and to pioneer the technology for a net-zero-emissions future. Read to learn the impacts of climate change on people and how to protect, build, and use human capital to ensure a livable planet.

On October 13, 2023, 33 countries joined the Annual Meetings Human Capital Ministerial Conclave to discuss how to connect people to good jobs and empower entrepreneurs to innovate and fuel job growth. Connecting healthy, skilled, and innovative people to jobs allows them to use their human capital to forge better lives. Equipping people with the know-how to be entrepreneurs enables them to launch and run businesses that create jobs for themselves and others.

On April 14, 2023, 40 countries joined the Spring Meetings Human Capital Ministerial Conclave to discuss policy priorities and solutions to prepare people for the effects of climate change and empower them to drive the transition to a more sustainable, resilient, and inclusive economy. Human capital investments are central to helping people adapt to climate shocks and build resilience. Ensuring a successful and just transition to a low-carbon economy requires equipping people to be part of climate solutions and benefit from emerging opportunities. The magnitude of climate and human capital financing requires reforms, new platforms, and partnerships to crowd in resources.

The 2022 Annual Report highlights program results in 18 countries in Africa and South Asia. The Umbrella Program mainstreams and embeds a human capital approach to development, and collectively addresses challenges through multisectoral action—a ‘whole-of-government’ approach—yielding results at scale in high priority countries and globally. 

How can countries ensure resilience in the face of growing food and nutritional crises? What implications do these crises have on children, and how can they be abated? Find out more by reading the report. Keywords: high food prices, food shortages, supply chain disruption, food insecurity, vulnerability. 

Next-Generation Human Capital Investments for Inclusive Jobs.

The aim of this policy note is to examine the relative efficiency and equity of public expenditures and policies for human capital and labor markets over the past decade in Türkiye in preparing for a post-COVID, inclusive, green transition.