World Bank report assesses economic impact of school closure due to Corona pandemic
The current generation of students is at risk of losing US$17 trillion of their living earnings due to the loss caused by the Corona pandemic. This is about 14 percent of the current GDP of the whole world. The World Bank and UNESCO have published a report related to this. In this report, the loss due to the closure of schools during the corona pandemic has been estimated.
This report has been named “State of the Global Education Crisis: A Path to Recovery Report“. It has been told that the impact of Corona on schools has been more than anticipated. This is much higher than the US$10 trillion forecast. It states that 53 percent of children in middle- and low-income countries were already struggling with education. Now after the closure of schools due to Corona epidemic, it can increase to 70 percent.
The closure of schools stopped the pace of education around the world
Jamie Saavedra, the World Bank’s Director of Global Education, said that the school closures caused by the Corona epidemic have halted the pace of education worldwide. Many schools are still closed 21 months after the pandemic struck. Lakhs of students are away from schools and many will never be able to go to school again. This loss of children cannot be accepted. This will have negative effects in their future. This pandemic will have a bad effect on the productivity, earnings, living conditions of this generation. It will be bad for his family and the economy of the whole world.
Less than three percent share for education in the package
It has been told in the report that less than three percent of the relief package announced by governments in countries around the world during Corona has been earmarked for education, whereas more than this is needed at the present time. To deal with this situation, students need to make arrangements according to their level. Along with this, teachers also need to be given proper arrangements to deal with this situation.
