Over two billion of the world's people live on less than $2.00 per day.
Ending extreme poverty and fostering shared prosperity are the objectives of the World Bank Group. Our analytical, operational, and convening work in over 140 client nations is supported by this mission.
The number of individuals surviving in extreme poverty — on less than $1.90 per person per day — has been continuously decreasing for almost 25 years. However, the COVID-19 issue, along with the effects of conflict and climate change — which had already been slowing poverty reduction – disrupted the pattern in 2020, causing poverty to increase.
Poor households suffered particularly during the pandemic because of decreased income, job losses, and work stoppages.
The severely hit groups included women, young people, low-wage and informal employees, particularly those residing in urban areas. Both inside and between countries, inequality increased, having long-term effects on social mobility and access to opportunity.
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