The World Bank Group is one of the largest sources of funding and knowledge for developing countries; a unique global partnership of five institutions dedicated to ending extreme poverty, increasing shared prosperity and promoting sustainable development. With 189 member countries and more than 120 offices worldwide, we work with public and private sector partners, investing in groundbreaking projects and using data, research, and technology to develop solutions to the most urgent global challenges. For more information, visit www.worldbank.org VPU Context: The World Bank Group serves 33 client countries in Latin America and the Caribbean Region (LCR). Clients range from large rapidly growing sophisticated middle-income clients to IDA countries to small Caribbean states to one fragile state, and to varying degrees face three key challenges – low productivity and growth, low quality jobs and low resilience to shocks. The region is tackling these challenges with a strong WBG approach, underpinned by selectivity and complementarity between the value added of public and private arms, and in strong partnership with relevant regional development partners. A. The challenge of low growth. After recovering lost output, the region is returning to pre-pandemic low growth and productivity scenario. After a solid post-pandemic rebound in economic activity (7.2% and 3.9% growth in 2021 and 2022 respectively), GDP growth returned to the pre-pandemic low growth around 2.2% in 2023 and 2024, with a medium-term outlook of 2.5%. With an average Gini co-efficient of [0.52] LAC remains also one of the most unequal regions in the world. It is a region where the bottom 50% earn 27 times less than the top 10%. It also represents stark differences in opportunity, a child born today in the poorest 20% quintile in LAC will on average be 17 percentage points less productive than a child born in the richest 20%. B. The challenge of quality jobs: the need for better quality jobs is paramount, with 6.2% unemployment rates, these low levels mask a deeper issue of job quality. Reflecting stagnating living standards, labor earnings have only grown by 1% or less per year in most countries over the past decade, and some 19% of workers in the region are earning incomes below the poverty line. •Investing in foundational infrastructure critical to job creation, LAC needs to invest at least 3.1% of GDP in infrastructure investments per year, yet it only invests 2%, which is significantly lower than the world average of 5.4% of GDP. This underinvestment in physical infrastructure, including in key infrastructure sectors (including resilient transport, water, energy etc.) is holding back potential for better jobs. The region is supporting clients by supporting selective transformative infrastructure projects (e.g. urban mobility, regional transport and connectivity). On human infrastructure challenge, firms in the region continue to cite skills shortages (55% of firms in LAC vs 45% in MIC regions) as a key barrier to growth and job creation. A child born in LAC is expected to reach only 56 percent of their productive potential. Three out of four 15-year olds fail basic math proficiency and cannot read adequately the soft side involves supporting clients revamp their education and health sectors. The region is supporting clients to revamp their education and health care sectors. •The LAC region also needs to foster a predictable, business-enabling policy and regulatory environment. These include ensuring macro stability, eliminating restrictive business regulations in product and factor markets, and improving access to finance, especially long-term capital. Labor market regulations in LAC are noted to be on par with the most restrictive labor market regimes among OECD countries. Further, enforcement of competition policy needs to be supported due to high levels of market concentration in LAC markets: the 50 largest firms in Mexico, Brazil, Colombia, Argentina, Chile have revenues greater than 30% of GDP. At 55% of GDP, domestic credit to the private sector remains much lower than EAP (178%). •Private capital needs to be appropriately incentivized to support the provision of public goods and investments in key sectors, especially those that have the highest potential to enable and/or create better quality jobs. However, at only 19.8% of GDP, gross capital formation remains lowest among all regions (EAP is at 38% and South Asia at 30%). Private capital mobilization in the region is being held back by shallow capital markets, lack of long-term finance, high cost of capital, regulatory and institutional barriers (including in PPP frameworks). Based on country contexts, the WBG will support investments in productive clusters (energy/mining, value added manufacturing, agribusiness, tourism, etc) across the public-private spectrum. C. The challenge of vulnerability to shocks. Building resilience of the countries to shocks, including natural disasters, through contingent financing and other innovative risk management platforms at country and regional levels is critical given the high exposure to climate–related disasters and natural hazards. The Central America and the Caribbean have recurrent hurricanes that have impacts on GDP significantly higher than the regional average of 1.7%. Several countries are experiencing deep, long droughts, increasingly intense storms, and floods that disrupt economic activities and affect livelihoods, with impacts on the most vulnerable populations. The World Bank’s Governance Practice and Public Sector Institutions Unit (ELCG2) is part of Prosperity for LCR. ELCG2 works with Governments and stakeholders to improve the performance and accountability of public institutions. The practice applies a problem-driven, diagnostic approach, combining global comparative knowledge of reform successes and failures with keen understanding of the institutional challenges and opportunities of developing countries. ELCG2 works across the following business lines: Public Financial Management; Domestic Resource Mobilization and Tax Administration; State-Owned Enterprises and Corporate Governance; Public Institutions (including civil service, center of government, legislatures and administration of justice); Decentralization and Sub-National Government. ELCG2 also works across the following cross-cutting themes: Digital Governance; Anti-Corruption; and Political Economy. ELCG2 supports government clients with a wide range of products: diagnostics; technical assistance and advisory services; learning, innovation and knowledge management; design and supervision of investment projects, and results-based and development policy operations.
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Job Type
Full-time
Career Level
Mid Level
Number of Employees
5,001-10,000 employees