The COVID-19 pandemic, the global financial crisis, and increasing food and fuel prices, all unfolding in the context of increasing concern and awareness about the negative impacts of climate change on the poor, have made very apparent the fragility of progress in the reduction of global poverty. These crises reveal that advances in poverty reduction and shared prosperity may be easily undermined by high levels of household welfare vulnerability to poverty prevalent in many developing countries.
A social protection system that serves the dual role of redistribution and protecting welfare and child human capital in the presence of economic and climate shocks is the foundation of an effective risk management system. This session will focus on efforts by countries in the region and elsewhere to promote and protect the development of human capital of children in the early stages of their lives.
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