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Executive Summary How the COVID-19 Pandemic Eroded Human Capital and What to Do about It Norbert Schady, Alaka Holla, Shwetlena Sabarwal, Joana Silva, and Andres Yi Chang

• Front Cover
• Contents
• Main Messages
• Executive Summary
• The pandemic destroyed human capital at critical moments in the life cycle
• Policies to reverse human capital losses
• Building agile, resilient, and adaptive human development systems for future shocks
• A human capital recovery: What will it take?
• Notes
• References
• Figures
• Figure ES.1 The pandemic led to steep losses in early childhood development and early learning in very young children in Bangladesh and Brazil
• Figure ES.2 During the pandemic, each month of school closures led to one month of learning losses, and more so in countries with lower GDP per capita
• Figure ES.3 Youth employment fell in most countries during the pandemic
• Figure ES.4 Declines in employment of young people during the pandemic were not offset by increases inschooling or training
• Figure ES.5 What are the paths to recovery?
• Table
• Table ES.1 There are evidence-proven policies that can reverse human capital losses