WB report prompts DSWD to refocus on human capital dev’t

The Department of Social Welfare and Development (DSWD) reaffirmed its commitment on Thursday to enhancing social protection programs and services in response to a recent World Bank (WB) report that highlighted the Philippines’ lag in human capital development compared to regional peers.

“Social protection plays an important role in boosting human capital. As the lead social protection agency, the DSWD continues to improve its existing programs and establish new ones to better serve the Filipino people,” DSWD External Assistance and Development Assistant Secretary Juan Carlo V. Marquez said.

The WB defines human capital as the health, knowledge, skills, and experiences acquired throughout one’s life stages, which are crucial for broad-based economic growth and improved living standards.

The WB report, titled “The Philippines Human Capital Review,” emphasizes the importance of comprehensive services in the early years, including maternal and child health, nutrition, early education, foundational skills development, and social protection during the first decade of life.