- As per the data of the report, around 150 million people will be pushed into extreme poverty by the end of 2021 because of COVID-19 pandemic.
- Around 88 million to 115 million will be pushed to extreme poverty due to this COVID-19 pandemic in 2020.
- This report states that this time it is first to rise in extreme poverty percentage in the past 20 years.
- The aspects which lead to an increase in global poverty are: COVID-19, Armed Conflicts and Climate Change.
- Around 82% of people from middle-income countries will be dragged into extreme poverty.
- In order to reduce poverty, the World Bank has suggested that nations need to limit and stop COVID-19 and must provide economical support to households to uplift their economies.
- Static Part:
- HQ of World Bank: Washington DC, US
- President of World Bank: David Malpass
Question:
Q.1 Which of the following organisation released a report titled as ‘Poverty and Shared Prosperity 2020: Reversal of Fortune?
a. Asian Development Bank
b. World Trade Organisations
c. World Bank
d. International Monetary Fund
a. Asian Development Bank
b. World Trade Organisations
c. World Bank
d. International Monetary Fund
