24/04/2025
Dr Abeer Almadawy Owner of Castle Orientation Holding Corporation LTD and CEO participated in the spring meeting of International Bank Group before yesterday and wrote this article about its opening for international economic development;
Overview of the World Bank Group Spring 2025 Meeting on Employment and Sustainable Development of the World’s Countries
The meetings and speeches of leaders began in the most important annual event, and many major international economic organisations participated with leaders and government officials worldwide. The meeting was preceded by important data in which they addressed financial conditions and challenges..
Since the focus of the meetings is about employment and youth projects, as reported, we have about one billion and 200 young people in need of jobs around the world, and the World Bank provides only 420 million jobs, that is, we have nearly 700 million unemployed young people around the world, if the number expresses a real identity for those wishing to work and employ among the youth of the world. Whatever the proposals of participating leaders around the world and the inspiring ideas put forward by Mr. Aja Banga, President of the World Bank Group, for a period of five years starting in 2023, in which he said that the idea of sustainable development of countries that provide work for these young people has become necessary and inevitable.
But this is me and this is my point of view as an entrepreneur as a private project, and this is the reason for my participation as a follower of these meetings, and I focussed on the speech of the bank’s president, Aja Panga. I see the challenges of the future in light of what was presented in the words that the biggest problem hindering the bank’s program for sustainable development is the expected view separate from societies.
Everyone has entered the Sustainable Development Marathon since it was adopted by the United Nations and launched by the International Community and the International Monetary Fund, but they were surprised that it did not serve the goals of countries as much as it served major economic institutions.
The economic pressures on which the world is exposed as a result of the constraints imposed by the Fund in the sustainable development program have only resulted in more losses and economic growth referred to in the Fund’s reports without a real understanding of the reasons for what is happening to all countries in general and developing countries in particular.
Sustainable development opened the opportunity for women and empowerment, but it did not open the alternative opportunity for young people despite the calls and programs, and the government’s programs did not support limited resources, so they had to borrow without waiting for positive results for this development. Of course, we all see the result of us in all countries of the world as a result of pressures and virtual expectations from the World Bank and IMF programs towards sustainable development and between the real reality facing the country, for example, what percentage of young people benefitting from the World Bank program and their impact on the development sector relative to the total youth?!..
That is why I call on the World Bank Group to break the restrictions and open horizons of understanding for the pains of these governments because the target group does not exceed 6 to 14% of the total society and its impact is very small given the expectations of a boom!
The restrictions he put on the implementation of the Fund’s projects and the obligation of developing countries specifically to do so were the main reason for the creation of a new economic gap that emerged because of the lack of understanding of the world economy and led to inflation and the fatigue of countries, and its protection was repaired above an ordeal that caused the end of the rise in public debt. This is an obvious result of the acute lack of understanding the requirements of the file of resource development, youth service and employment, even if it succeeds in empowering and supporting women and supporting other creative ideas at the level of children and education.
I demand a balance because from other countries, the prey of debts will fall, as well as the IMF and the new rules with their indispensable mechanisms and there is no alternative to them, so countries and government institutions are forced to follow a path that has found a very sad end, which may reach the point of bankruptcy of these countries.
So returning to the speech of His Excellency Mr. Ajay Banga, how did countries actually benefit from these development programs when they are failing to achieve their goals, in addition to causing an additional burden and their expected results are a captive of international decisions? I expect that fragile economic theories that do not give a broader horizon to the challenges of the global economic climate, as well as the internal conditions of each country...
It is the one that will impose from itself a new economic reality that is binding on the international community in general
In conclusion, I present a point of view not as an economist but as an entrepreneur and an overview as a citizen in a third world community that is more aspired to advance and benefit from the World Bank’s programs and inspiring ideas.
Meetings of the World Bank Group from April 21 to 27. There are official speakers. Egypt participates through Dr. Rania Al-Mashat, Minister of Cooperation, as well as a high number of major international world economic figures such as the President of the International Monetary Fund and other heads of international financial institutions that influence the global financial and banking evaluation.
Yesterday, I followed up remotely and postponed submitting proposals for discussion if a speaker wished to comment on my question, of course.
. My intellectual vision of international meetings and steps to contain the world’s economic crises is as follows;
All international events organised by the World Bank to understand a new global language that is more open to the aspirations of the future. Countries that limit themselves to an obsolete political and economic past will not take a single step forward.
We must respect the future and work for it from today, but also today must not be neglected for tomorrow. Here is the meeting point, where today is received with tomorrow, so it requires the state to set special goals for it in which the international visions directed by the group or from the Fund or all the development programs granted by the World Bank in general. At the same time, we must have a parallel path to achieve our goals related to the management of (today) files, and this will give the state intellectual wealth.Economic..
I am not only interested in encouraging the private sector and youth collective projects, but I am interested in supporting poor communities in the villages with small and half-medium vital projects in the medium term that will mature and become strong projects that can join the goals of the future and open to individuals and villages to adopt the same development projects.
Returning to projects that bring together the public, government and private sectors together in a new bond that requires work on to mature the causes of the success of projects and work step by step for the productive future, security and positive change to break the stereotype of the rigid economy. All this will impose itself once it succeeds.
I mean, in the end, a man should not walk with one foot that follows the World Bank or the Fund, but he must walk with two feet in order to achieve a natural balance.
I also did not address the past negative consequences and their effects because they are the most harmful to the economy of any country and so on.
The two ways they have to support the treatment of the past difficult circumstances is not in agreement, and the Fund’s view because it is blind to the daily needs of citizens despite its efforts to support them, and this is why the citizen sees an enemy of him and all his decisions are against him, and this is true if we do not see that the Fund is looking at each country in the mould of today and tomorrow and erases in front of it yesterday, and if the effects of yesterday are what hinder the progress of today and tomorrow.
