World Bank reports declining progress on global extreme poverty

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Recent reports from the World Bank reveal that the percentage of people living in extreme poverty globally fell down from 11 percent in 2013 to 10 percent in 2015, reflecting steady but slowing progress.

The number of people living on less than $1.90 a day also decreased by 68 million to 736 million during this period.

Even though there is great progress in lessening extreme poverty, rates are still persistently high in low-income countries and those affected by conflict and political problems.

World Bank Group President Jim Yong Kim said: “Over the last 25 years, more than a billion people have lifted themselves out of extreme poverty, and the global poverty rate is now lower than it has ever been in recorded history. This is one of the greatest human achievements of our time.

“But if we are going to end poverty by 2030, we need much more investment, particularly in building human capital, to help promote the inclusive growth it will take to reach the remaining poor. For their sake, we cannot fail.”

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