KUNA : Education crisis to students due to COVID-19 close to USD 17 Trillion – WB, UNICEF, UNESCO – Economics – 06/12/2021 – Kuwait News Agency

KUNA : Education crisis to students due to COVID-19 close to USD 17 Trillion – WB, UNICEF, UNESCO – Economics – 06/12/2021 – Kuwait News Agency

WASHINGTON, Dec 6, (KUNA) -- This generation of students now risks losing USD 17 trillion in lifetime earnings in present value, or about 14 percent of today's global GDP, as a result of COVID-19 pandemic-related school closures, according to a new report published by the World Bank, UNESCO, and UNICEF on Monday. The new projection reveals that the impact is more severe than previously thought, and far exceeds the USD 10 trillion estimates released in 2020. In addition, The State of the Global Education Crisis, a Path to Recovery report shows that in low- and middle-income countries, the share of children living in Learning Poverty, already 53 percent before the pandemic, could potentially reach 70 percent given the long school closures and the ineffectiveness of remote learning to ensure full learning continuity during school closures."The COVID-19 crisis brought education systems across the world to a halt," said Jaime Saavedra, World Bank Global Director for Education."Now, 21 months later, schools remain closed for millions of children, and others may never return to school. The loss of learning that many children are experiencing is morally unacceptable. And the potential increase of Learning Poverty might have a devastating impact on future productivity, earnings,