IDA is a vital development partner now more than ever

It is undeniable that progress has been made in reducing extreme poverty over the last ht-jessica-education780pxquarter century—from 36 percent of the world population in 1990 to an estimated 8.6 percent in 2018—and that living standards for hundreds of millions of people have improved over that time.

Yet, poverty reduction has not been consistent across countries and today it is slowing. For the world’s poorest countries, extreme poverty remains stubbornly high with 31 percent of their people living on less than $1.90 a day. 

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Decline of Global Extreme Poverty Continues but Has Slowed

WASHINGTON, Sept. 19, 2018 Fewer people are living in extreme poverty around the world, but the decline in poverty rates has slowed, raising concerns about achieving theIDA goal of ending poverty by 2030 and pointing to the need for increased pro-poor investments, the World Bank finds.

The percentage of people living in extreme poverty globally fell to a new low of 10 percent in 2015 — the latest number available — down from 11 percent in 2013, reflecting steady but slowing progress, World Bank data show. The number of people living on less than $1.90 a day fell during this period by 68 million to 736 million.

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Breaking the Link Between Extreme Weather and Extreme Poverty

STORY HIGHLIGHTS
  • Because natural disasters tighten poverty’s grip on communities worldwide, disaster risk reduction goes hand in hand with poverty reduction, and vice versa
  • A new World Bank report finds the impact of extreme weather on poverty is more devastating than previously understood, responsible for annual consumption losses of $520 billion and pushing 26 million people into poverty every year
  • Targeted resilience-building interventions protect poor people from adverse weather events and can help countries and communities save $100 billion a year

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