A billion young people are expected to enter the workforce in the next decade, making skills development critical to future job creation. The 13th Human Capital Ministerial Conclave, held during the 2025 World Bank Group and IMF Annual Meetings, focused on the theme “Skills for Jobs.” Leaders from the manufacturing, digital, and health sectors discussed how governments and employers can collaborate to prepare workers for rapidly evolving labor markets. Representatives from 40 countries of the Human Capital Project Network shared experiences on how they are investing in people and building partnerships with the private sector to boost workforce readiness.
For the first time, the Conclave featured a head of state, President Tharman Shanmugaratnam of Singapore, who joined a conversation with Mamta Murthi, the World Bank Group’s Vice President for People. President Tharman emphasized that investing in human capital is more crucial than ever amid technological change driven by artificial intelligence. Drawing from Singapore’s success, he highlighted the importance of strong foundational education, professional teacher development, and the integration of technical and vocational training with academic programs to equip people with adaptable skills for the future.
Mamta Murthi noted that the Human Capital Network is evolving into a “Knowledge Bank” to foster deeper peer-to-peer learning and collaboration. She emphasized that leveraging data and shared experiences can help countries innovate and build resilience in the face of rapid change. Axel van Trotsenburg, the World Bank’s Senior Managing Director for Development Policy and Partnerships, underscored that skills are the bridge between growth and jobs. He urged countries to invest urgently in education, health, and capacity-building to ensure young people can meet future labor market demands.
Prominent speakers from multiple sectors shared insights on building human capital. Dr. Rubana Huq from Bangladesh highlighted the importance of developing both foundational and advanced skills, showcasing her work in supporting women garment workers’ access to higher education. Nigeria’s Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, discussed the country’s program to train three million people in technical and digital skills, aiming to position Nigeria as a hub for digital talent. Dr. Vanessa Kerry, CEO of Seed Global Health, stressed that investing in health workers yields high economic returns and can create millions of jobs across related sectors.
Finance and planning ministers from across the Human Capital Project Network reaffirmed their commitment to lifelong learning and aligning education systems with labor market needs. Guyana’s Finance Minister, Dr. Ashni Singh, shared his country’s focus on jobs-centered investments in health and education. Ethiopia’s Finance Minister, Ahmed Shide, highlighted efforts to upskill the country’s 1.8 million new labor market entrants annually, with a focus on gender equality. Ministers from Georgia, Lesotho, Nigeria, Côte d’Ivoire, Fiji, and Saudi Arabia also shared national experiences in education reform, technical training, and private sector collaboration.
In closing, Saudi Arabia’s Minister of Economy and Planning, Faisal Alibrahim, emphasized that the true measure of success is not just employment rates, but whether jobs lead to higher productivity, improved incomes, and greater upward mobility. The Conclave concluded with a shared commitment to expanding investments in people, fostering inclusive education systems, and building resilient economies ready for the future of work.
