Eradicating violent conflicts’ll save world $70bn per year – World Bank

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Following series of violent conflicts that have claimed lives and money, the World Bank and United Nations have called for the refocus of the world’s attention on prevailing violence as a means of achieving peace and saving up to $70 billion per year on the
average.

In their first report on conflict prevention, which was titled Pathways for Peace: Inclusive Approaches to Preventing Violent Conflict, the two bodies stated that the key was to identify risks early and work closely with governments to improve response to these risks and reinforce inclusion.

The President, World Bank Group, Mr. Jim Yong Kim, said, “It’s increasingly clear that violent conflict is one of the biggest obstacles to ending poverty.

“Conflict impacts a growing number of people within countries, but it does not confine itself to national borders, and its spillover effects can imperil entire regions and pose risks worldwide.

“Preventing violent conflict is one of the most critical development challenges of our time; one that requires more resources, innovative approaches, and intensified collaboration among international partners.”

Since 2005, deaths relating to battles had increased 10-fold, reaching their highest point in 2015. Between 2010 and 2016 alone, the number of civilian deaths in violent conflicts doubled.

Violent conflicts had also forced people from their homes in record numbers. Today, an estimated 65.6 million people are either internally displaced or are refugees, with children making up more than half of the world’s refugee population.