Like every other development institution, The World Bank Group’s International Finance Corporation (IFC) is deeply concerned with how to create more and better jobs. There’s no question that jobs are the key issue in any discussion about ending poverty. The 60,000 poor people who participated in Deepa Narayan’s Voices of the Poor study 13 years ago were right—jobs are the surest way out of poverty for people across the world.
Today, IFC publishes a report on the findings of a study about how jobs are created by the private sector. Given the private sector provides 90 per cent of jobs, the estimated 600 million that need to be created by 2020 will inevitably have to come from the private sector.