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Rich Nations in Asia-Pacific may recover faster in Post Pandemic era: UNDP , ADB, ESCAP Report

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Richer-nations-in-Asia-Pacific-may-recover-faster-than-poorer-counterparts-post-pandemicAccording to the report ‘Responding to the COVID-19 Pandemic : Leaving no Country Behind’ jointly released by ADB (Asian Development Bank), UNDP (United Nations Development Programme) & UNESCAP (United Nations Economic and Social Commission for Asia and the Pacific), Richer countries in Asia-Pacific will recover faster than poorer countries  from the pandemic due to Variation in degree of immunity, healthcare system & vaccine roll-out.

  • The differences in infections and immunity, financial position, quality and coverage of healthcare systems will lead to an uneven recovery of the economy (K-shaped) in the Asia-Pacific region.
  • Developed countries together with Singapore, South Korea, China, India, Russia and Turkey will achieve herd immunity within 2021.
  •  International Labour Organization (ILO) termed the current young population as the ‘lockdown generation’.

Key Points

  • It stated that the Asia-Pacific region is undergoing a K-shaped recovery (different parts of the economy recover at different rates).
  • The Asia-Pacific region is off-track to meet its Sustainable Development Goals (SDGs) by 2030.
  • The report states that effects of pandemic are likely to be ‘worse’ and it will take years to attain pre-pandemic income levels.
  • The income inequality has increased by 40% in the Asia-Pacific region.
  • It has also given rise to the digital & technology divide.

UN drives campaign for Youth

The United Nations (UN) and 6 Youth Organizations have come together to launch a campaign called ‘Global Youth Mobilization Local Solutions’.  It will involve the youth of the world in building their lives impacted by the COVID-19 pandemic.

  • An initial fund of USD 2 Million (~ INR 15 crores) will be made available for the programme.
  • 90% of young people have reported increased mental anxiety during the pandemic while one in six young people have lost jobs due to pandemic.

Recent Related News:

i.On October 21, 2020, a report “Human Mobility, Shared Opportunities: A Review of the 2009 Human Development Report and the Way Ahead” was released by UNDP stating how governments can shape migration to benefit development and boost recovery.

About Economic and Social Commission for Asia and the Pacific (UN ESCAP)

Executive Secretary – Armida Salsiah Alisjahbana
Headquarters – Bangkok, Thailand
Members – 53 Members & 9 Associate Members

About Asian Development Bank (ADB)

President – Masatsugu Asakawa
Headquarters –  Mandaluyong City, Manila, Philippines
Members – 68 countries

About United Nations Development Programme (UNDP)

Administrator – Achim Steiner
Headquarters – New York, USA