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Conflict prevention could help save $5-70bln per year (Report)

Wednesday, 20 June 2018 16:49

(Ecofin Agency) - A recent World Bank-UN Report on violent conflicts indicated that a scaled-up system for preventive action would save between $5 billion and $70 billion per year. The document entitled “Pathways for Peace: Inclusive Approaches to Preventing Violent Conflict”, said the money could be used to address other major issues around the world such as reducing poverty and improving people welfare. Moreover, it could also help reduce a worrying trend of major conflicts.

According to the same report, since 2010 the number of major violent conflicts has tripled. Experts said if no action is taken to keep this impetus in check, “by 2030 […], over half of the world’s poor will be living in countries affected by high levels of violence”.

To effectively address the situation, UN and World Bank advocated a more people-centered approach of preventive measures system that will be applied at the state and local levels. Furthermore, both organizations indicated that this must be backed by political, economic and social inclusion measures, to involve all citizens.

When risks are high or building up, inclusive solutions through dialogue, adapted macroeconomic policies, institutional reform, and redistributive policies are required”, the report pointed out.

Moutiou Adjibi Nourou

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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