UNDP Launches Global Investment and Employment Initiatives to Boost Growth in Developing Countries -By Kestér Kenn Klomegâh

The United Nations Development Programme (UNDP) today has announced two major global initiatives aimed at boosting economic growth and job creation in developing economies. Launched during the IMF-World Bank Group Annual Meetings in Bangkok, the Investment Accelerator and the Jobs for Prosperity Facility will help countries attract investment, strengthen the business environment, and create more and better-paid jobs.

These initiatives, supported by expanded partnerships with the World Bank Group, European Investment Bank, and the European Bank for Reconstruction and Development, will address the urgent challenge of closing the global jobs gap as an estimated 1.2 billion young people enter the workforce over the next decade. The two new initiatives will help countries attract investment, grow businesses and create more and better-paid jobs, backed by strengthened partnerships with development banks.

The United Nations Development Programme (UNDP) has expectedly launched two global initiatives to help developing economies attract investment, strengthen business environment and create more and better jobs. The was announced during the IMF-World Bank Group Annual Meetings in Bangkok, UNDP’s Investment Accelerator and Jobs for Prosperity Facility will be supported by expanded partnerships with the World Bank Group, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).

Closing the jobs gap
The initiatives come as developing economies face a growing jobs challenge. An estimated 1.2 billion young people will enter the workforce over the next decade, while only 400 million jobs are projected to be created. Closing this gap will require significantly greater investment and stronger connections between economic policy, finance, business development and labour markets.

“Developing countries have enormous economic potential and ambitious plans for growth and job creation. Our role is to support those ambitions and help turn them into real results for people,” said Alexander De Croo, Administrator of UNDP. “Our new investment and jobs initiatives will help connect countries’ priorities with the finance and expertise needed to deliver. By working with governments, development banks and private investors, we can help turn investment into stronger businesses, more and better paid jobs, and higher incomes for people.”

Turning investment into economic growth and jobs
The Investment Accelerator will help countries attract and put investment to work. It will support governments in improving investment policies and regulations, developing investment-ready projects and pipelines, engaging investors and moving projects from preparation to implementation.

The Jobs for Prosperity Facility will focus on translating economic growth into employment. It will help countries identify sectors with strong job-creation potential, align skills with employer demand and address barriers to business investment and hiring. It will also support the development of sector-specific pipelines that can create more and better-paid jobs.

Together, the initiatives aim to strengthen businesses, expand productive capacity and ensure that investment translates into sustained employment growth. They build on UNDP’s extensive experience in financing for development. UNDP supports more than 100 countries in strengthening their financing frameworks and advancing sustainable finance. It has also identified more than 700 SDG investment opportunity areas across over 50 countries. Since 2022, UNDP-supported worked has hepled align or leverage more than $920 billion in public and private finance for the Sustainable Development Goals.

Partnerships to mobilize finance and deliver at scale
UNDP is expanding its cooperation with development banks, financial institutions and private investors to advance the investment and jobs agenda. These partnerships bring together UNDP’s country relationships, policy expertise and implementation capabilities with partners’ financing, risk-sharing and transaction expertise. By combining these strengths, UNDP and its partners aim to mobilize investment at scale and translate it into economic growth and jobs.

UNDP recently signed a Cooperation Framework with the World Bank Group to mobilize finance for development and scale solutions that drive jobs and growth, Pilot initiatives are already underway in Nepal, Yemen, Haiti, Lebanon and Ghana, focusing on policy and governance reforms that create the conditions for greater private investment.

During the Annual Meetings, UNDP will also sign memoranda of understanding with the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) to deepen cooperation on investment and development priorities. These agreements build on established partnerships, including UNDP’s work with Generali and with Italy and Cassa Depositi e Prestiti (CDP) through the Platform for Investment Support and Technical Assistance (PISTA). The platform helps countries translate national priorities into investment-ready projects.

Managing risks to unlock investment
The investment and jobs initiatives were launched at a high-level dialogue during the 2026 World Bank Group-IMF Annual Meetings. The Office of the Italian Executive Director at the World Bank Group and Generali co-hosted the dialogue, with participation from the World Bank Group and UNDP. Following opening remarks by World Bank Group President Ajay Banga, the discussion brought together UNDP Administrator Alexander De Croo, Generali Chairman Andrea Sironi, and Dr. Santitharn, Thailand’s Vice Minister of Finance.

The dialogue highlighted the role of insurance and risk finance in attracting investment. In 2025, natural catastrophes in Asia caused $65 billion in economic losses, of which only $5 billion was insured. Governments, businesses and households were left to absorb the remaining 92 percent. Better financial protection can help businesses recover from shocks, protect public finances and reduce investment risks.

Since 2022, UNDP and Generali have worked together to strengthen the small-business resilience in Asia, develop sovereign risk-financing solutions in Viet Nam and support coffee value-chain resilience in Uganda alongside the United Nations Industrial Development Organization (UNIDO). Their collaboration also covers research, risk-management tools and insurance innovation for small businesses. The partnership was renewed in 2025 for another three years. The Investment Accelerator and Jobs for Prosperity Facility are among UNDP’s five new corporate flagship initiatives supporting delivery of its Strategic Plan 2026–2029.