The World Bank has announced that almost 26 million people have been forcibly displaced from their homes and fled across borders from situations of fragility, conflict and violence (FCV).
According to the Global Refugee Forum data, 85 percent of all refugees are hosted by developing countries, and three quarters of refugees are still displaced after five years, and that such long displacements can be devastating.
"All refugees, especially women, are exposed to higher levels of violence and exploitation. Those seeking work often find few opportunities and may be forced to work illegally or in dangerous conditions. A ‘lost generation’ of refugee children may miss out on good health, education and a stable childhood, and are left with few productive skills or job prospects," the WB said.
Regarding access to jobs, the WB said that business owners have recognised that investments in development can take a long-term approach and complement the immediate humanitarian responses to crises, helping reduce the damaging impact of prolonged displacement.
At the Global Refugee Forum, which was held last week, the WB announced that over the next three years, a further increase will be applied to the financial allocations in this regard.
The WB says that it has allocated $2.2 billion, compared to $2 million in the previous IDA cycle, for Window for Host Communities and Refugees (WHR) by which the WB will address the long-term development needs of both populations.
Fourteen countries will be eligible for this support, and 10 of them have already started implementing projects over the past three years. WHR, a funding package that aims to address the long-term development needs resulting from displacement, is the main source of financing for refugees and host communities allocated through IDA, up to $1 billion from other IDA resources like the dedicated FCV allocation.
Meanwhile, the new IDA19 package increases this allocation to $18.7 billion in support for countries affected by fragility, conflict, and violence, and those countries are also expected to receive a large part of a new $2.5 billion funding window to reinforce the private sector and create new jobs.
Moreover, the World Bank’s Global Concessional Financing Facility, which provides concessional financing to middle income countries hosting large numbers of refugees, has also raised its financing, as it has been doubled over the same period from $160 to $320 million.