A year ago, before the COVID-19 pandemic struck, I was optimistic about the trends in global poverty: extreme poverty rates had been steadily declining for more than two decades. Although considerable challenges like debt still loomed large for the poorest countries, the positive trajectory in the fight against poverty brought great hope for a better future—a future I still believe in.
The March 2020 global poverty update added more than 200 new surveys to PovcalNet,
bringing the total number of surveys to more than 1,900. New poverty estimates for the reference year 2018 are now included for some regions, and the previously published global and regional estimates from 1981 to 2015 have been revised, reflecting data revisions and the availability of new data. More details on the revisions can be found in Atamanov et al. (2020).
As COVID-19 reaches more than 60 countries, the World Bank Group is making available an initial package of up to $12 billion in immediate support to assist countries coping with the health and economic impacts of the global outbreak. This financing is designed to help member countries take effective action to respond to and, where possible, lessen the tragic impacts posed by the COVID-19 (coronavirus).
Through this new fast track package, the World Bank Group will help developing countries strengthen health systems, including better access to health services to safeguard people from the epidemic, strengthen disease surveillance, bolster public health interventions, and work with the private sector to reduce the impact on economies. The financial package, with financing drawn from across IDA, IBRD and IFC, will be globally coordinated to support country-based responses.
I have read the many reports that summarize the dire state of the climate and our planet’s worsening prospects. I know the hard statistics docum
enting rising temperatures, the increasing intensity of natural disasters and warmer seas. I have been meeting with representatives from developing countries who have one request:
For most children, turning 10 is an exciting moment. They’re learning more about the world and expanding their horizons. But too many children – more than half of all 10-year-olds in low- and middle-income countries – cannot read and understand a simple story.That is unacceptable.
When people talk about biodiversity, it is often through the lens of conservation and the survival of animal and plant species. But the value drawn from a healthy biosphere is much more than that – it delivers a steady supply of food, water, jobs and livelihoods and helps to regulate climate.
1 million plant and animal species (out of 8 million) face extinction within decades, according to the latest scientific assessments, and deforestation and soil degradation have reached epic levels.Our oceans are overfished and polluted with plastic;
STOCKHOLM, December 13, 2019 — A global coalition of development partners announced today their commitment to maintain momentum in the fight against extreme poverty, with $82 billion for the International Development Association (IDA), the World Bank’s fund for the poorest. The financing, which includes more than $53 billion for Africa, will help countries invest in the needs of their people, boost economic growth, and bolster resilience to climate shocks and natural disasters.
A few years ago, Binita Biswokarma’s life took a sharp turn for the worse.
With no skills, relatives, or farmland, the young woman from Kaski, a rural district in West Nepal, struggled to provide for her son’s education, buy food and necessities, let alone repair the roof of her home.
Then came an opportunity to work as a road maintenance worker—and find a way out of poverty.
For over 70 years, the World Bank Group has successfully raised funds in the capital markets to invest in development projects. Through its arm for middle-income countries, the International Bank for Reconstruction and Development (IBRD), the World Bank Group funded public sector projects like roads, green energy, health or education systems; and through the International Finance Corporation (IFC), it provided capital to the private sector in developing countries to help businesses grow and provide jobs, taxes and other wider societal benefits.