(The Monday Morning)- - Such large numbers of young people living in the developing world present great opportunities but also risks�, World Bank chief economist Fran�ois Bourguignon explained as the Bank issued its World Development Report.
�The opportunities are great, as many countries will have a larger, more skilled labor force and fewer dependents. But these young people must be well-prepared in order to create and find good jobs�.
The report said the 1.3 billion young people living in the developing world represent the largest-ever youth group in history and will be entering the workforce in better health and with better education than in previous eras.
But it warned that �failure to seize this opportunity to train them more effectively for the workplace and to be active citizens could lead to widespread disillusionment and social tensions.
�Most developing countries have a short window of opportunity to get this right before their record numbers of youth become middle-aged and they lose their demographic dividend�, warned Emmanuel Jimenez, lead author of the report and head of the Bank�s East Asia and the Pacific Department.
The report found that at present young people account for nearly half the ranks of the world�s unemployed. In the Middle East and North Africa, it said, 100 million jobs must be created by 2020 if the labor market is to be stabilized.
The Bank said �far too many� young people -- 130 million -- cannot read or write. �Secondary education and skill acquisition make sense only if primary schooling has been successful�, it argued.
The report called on developing countries to expand opportunities for better education and healthcare as they enter adulthood and assume civic responsibility.
It said an ethnic conflict in Sri Lanka between Sinhalese and Tamils had its roots in the frustration of Tamil students who had been denied university places and other opportunities for civic engagement.
In addition the report urged that young people be provided relevant information, on reproductive and health services for example, and said governments should draft programs for young people who need a second chance.
Such efforts could target young people who have dropped out of school, become addicted to drugs or have been convicted of crimes.
�Rehabilitation is costly but the payoffs are highest for young people who still have a lifetime of potential productivity ahead of them�, the World Bank maintained.