{"id":136401,"date":"2017-12-05T02:01:13","date_gmt":"2017-12-05T07:01:13","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=136401"},"modified":"2017-12-05T02:01:13","modified_gmt":"2017-12-05T07:01:13","slug":"world-bank-urges-adoption-of-integrated-social-protection-policy","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/12\/05\/world-bank-urges-adoption-of-integrated-social-protection-policy\/","title":{"rendered":"World Bank urges adoption of integrated social protection policy"},"content":{"rendered":"
\"FILE:<\/a>
FILE: The Philippines needs to create an integrated social protection policy to reduce poverty, according to a new World Bank (WB) report. (Photo<\/a> by Marlon E\/Flickr<\/a>, CC BY-SA 2.0<\/a>)<\/figcaption><\/figure>\n

MANILA —\u00a0The Philippines needs to create an integrated social protection policy to reduce poverty, according to a new World Bank (WB) report.<\/p>\n

The WB report, titled \u201cRiding the Wave: An East Asian Miracle for the 21st Century,\u201d described the Philippines, along with Indonesia and Cambodia, as “out-of-extreme-poverty” countries, which enjoy low levels of extreme poverty but also still have small middle classes.<\/p>\n

A sizable share of the population is still either moderately poor or vulnerable to falling back into poverty, it said.<\/p>\n

\u201cIntegrating existing social assistance programs to provide greater economic security is a key priority, with strengthening mobility a close second,\u201d WB reported.<\/p>\n

The Bank identified fostering economic mobility among the three pillars that can underpin the policy agenda for the remaining extreme poor.<\/p>\n

\u201c(This) requires closing gaps in access to jobs and services, improving the quality of jobs, and promoting financial inclusion,\u201d it said.<\/p>\n

Other pillars are providing greater economic security and bolstering social assistance systems.
\nThe former involves bolstering social assistance systems, expanding social insurance, and increasing resilience to shocks; while strengthening institutions includes progressive taxation policies to raise resources and improvements in the effectiveness of inclusive spending programs.<\/p>\n

\u201cBetter management of rapid aging and urbanization, as well as enhancing competition, will also help,\u201d the report added.<\/p>\n

The WB noted that countries of developing East Asia and Pacific \u2013 among the most successful in the world in reducing poverty and improving living standards \u2013 need to adopt a new thinking if they are to achieve inclusive growth going forward.<\/p>\n

\u201cIt\u2019s a historic achievement that nearly a billion people in East Asia moved out of extreme poverty in just one generation,\u201d said Victoria Kwakwa, WB Vice President for East Asia and the Pacific. \u201cBut for the region to sustain inclusive growth, countries will need to address the challenges of fully eliminating extreme poverty, enhancing the prospects for economic mobility, and assuring economic security for all.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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