World Bank Publishes Report on Eradicating Extreme Poverty by 2030
The World Bank has released a report at the end of 2024 outlining the challenges to reduce poverty. This report reviews all aspects that need to be addressed to achieve the goal of eradicating extreme poverty by 2030.
Experts have highlighted a difficult economic context that is struggling to recover from the COVID-19 crisis, with rising conflicts and climate change. However, they have also identified nine key themes to focus on to eradicate extreme poverty and reduce disparities between developed and developing countries.
Here are some of the key areas to focus on:
1. Eradicating Extreme Poverty
The extreme poverty threshold is currently estimated at $2.15 per day, affecting 8.5% of the global population, or 700 million people. An additional 3.5 billion individuals live below the poverty line, set at $6.85. Middle-income countries have the highest poverty rates.
2. Multidimensional Poverty
Multidimensional poverty takes into account various aspects of poverty in developing countries. To better assess the situation, the following indicators are used: infant mortality, nutrition, years of schooling, school dropout rates, access to electricity, clean water, sanitation, housing conditions, cooking fuel, and ownership of assets.
3. Addressing Climate Change
Climate change affects 1.2 billion people exposed to risks such as flooding, heatwaves, drought, or natural disasters. Adapting to these new conditions must go hand-in-hand with building resilient growth.
4. Achieving Gender Equality
Gender equality is not just a slogan; it is a crucial condition for development, according to experts.
5. Relieving the Burden of Debt
Debt has been exacerbated, especially after the COVID-19 global crisis, and is hindering growth efforts in developing countries.
6. Boosting Growth in Developing Countries
A higher GDP growth rate is essential for creating wealth, jobs, and escaping extreme poverty and poverty.
7. Restoring Affordable Prices for Basic Products
After the COVID-19 crisis, most countries experienced high inflation, which increased prices, including those of basic products. To reduce inflation, debt must be reduced, and local consumption or short supply chains encouraged.
