World Bank (WB) Director Idah Z. Pswarayi-Riddihough says that quality, inclusive jobs are the surest way to reduce poverty and share prosperity. And according to her, these can only come sustainably through the private sector.

According to data provided by the WB director, 99% of formal companies are micro, small and medium-sized enterprises, many of which are led by women; around half a million young people enter the workforce every year; and, meanwhile, only 30,000 formal jobs are created every year.

"These figures demonstrate the need to invest more and more in micro, small and medium-sized enterprises, develop innovative solutions for youth employment, empower women and girls and encourage the informal sector to become more integrated into the economy," she said.

For the WB director, this can be achieved through substantial investment in infrastructure, skills creation, business environment reforms and access to finance. "These are the foundations that allow the private sector to create more productive jobs for young people," she said during her speech.

Continuing her speech, she praised the government's support for the adoption of the Economic Acceleration Package (PAE).

The director also highlighted some aspects to be taken into account for the development of the economy. She said that people and companies need to be connected to market opportunities through infrastructure, especially roads, electricity and water.

"This is an area where private capital can be mobilized very effectively to complement scarce public resources," he explained.

She also spoke of the need to invest in young people's skills in order to guarantee better salaries and greater productivity.

"In this context, we encourage you to invest in training opportunities and partnerships to create jobs, especially for young people and women," he added.