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World Economic Forum (WEF) 

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World Economic Forum (WEF)

  • The World Economic Forum (WEF) is a Switzerland-based international non-governmental organization (NGO) that brings together global leaders in business, politics, academia, and civil society to discuss and shape economic and development agendas. 
  • The World Economic Forum is the International Organization for Public-Private Cooperation.
  • Established in 1971 as a not-for-profit foundation
  • It is best known for its annual meeting at Davos, which gathers influential leaders to deliberate on pressing global issues.

Origin

  • Founded: 1971 by Klaus Schwab.
  • Headquarters: Geneva, Switzerland.
  • Initially called the European Management Forum; renamed the World Economic Forum in 1987 to reflect its global scope.

Objectives

  • Promote public-private cooperation for solving global challenges.
  • Provide a platform for dialogue on economic, environmental, technological, and social issues.
  • Foster sustainable economic growth, social inclusion, and environmental protection.
  • Shape agendas through reports, initiatives, and partnerships.

Key Activities

Annual Davos Meeting:

  • The flagship event of the World Economic Forum is the invitation-only annual meeting held at the end of January in Davos, Switzerland, bringing together chief executive officers from its 1,000 member companies, as well as selected politicians, representatives from academia, NGOs, religious leaders, and the media. 
  • The Annual Meeting 2025 convenes global leaders to address key global and regional challenges.
  • These include responding to geopolitical shocks, stimulating growth to improve living standards, and stewarding a just and inclusive energy transition.

Edison Alliance

Introduction

The Edison Alliance is a global initiative launched by the World Economic Forum (WEF) to accelerate digital inclusion across the world. It aims to ensure that every individual can access affordable digital services in health, education, and financial inclusion.

It focus on addressing challenges like access to the internet, affordability of data and smart devices, and digital literacy facilitating usability

Origin

  • Launched: 2021 at the World Economic Forum.

Objectives

  • It aims at providing affordable access to digital services to 1 billion people by 2025
  • Expand access to affordable and reliable internet connectivity.
  • Drive inclusion in three critical areas:
    • Healthcare – Telemedicine, digital health solutions.
    • Education – E-learning and digital classrooms.
    • Finance – Digital payments and banking access.

Governance & Partners

  • A public–private partnership under WEF.
  • It is uniting governments, businesses, academia, and civil society to ensure equitable access to the digital economy to bridge the digital divide.

FAQs 

1. What is the World Economic Forum (WEF)?

The WEF is a Switzerland-based international organization that facilitates public-private cooperation to address global economic, social, and environmental challenges.

2. Where is the headquarters of the WEF located?

Geneva, Switzerland.

3. Who founded the WEF and when?

The WEF was founded in 1971 by Klaus Schwab and was originally called the European Management Forum.

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