The World Bank’s new Poverty, Prosperity, and Planet Report finds that governments can eradicate poverty by fostering faster and more inclusive growth and shielding people from the effects of climate change. But progress requires approaches that differ according to countries' income levels.
WASHINGTON, DC – Progress on poverty reduction has slowed almost to a standstill in recent years. With nearly 700 million people still living on less than $2.15 per day, the world is far from the goal of eradicating extreme poverty by 2030. At the current pace, it will take at least three decades to reach this target, and more than a century to lift everyone above the poverty line of $6.85 per day used for upper-middle-income countries. Today, 44% of the global population falls below this threshold.
WASHINGTON, DC – Progress on poverty reduction has slowed almost to a standstill in recent years. With nearly 700 million people still living on less than $2.15 per day, the world is far from the goal of eradicating extreme poverty by 2030. At the current pace, it will take at least three decades to reach this target, and more than a century to lift everyone above the poverty line of $6.85 per day used for upper-middle-income countries. Today, 44% of the global population falls below this threshold.