Home » Lead News » 15 crore people at risk of becoming poverty-ridden: World Bank

15 crore people at risk of becoming poverty-ridden: World Bank

Millions more will be pushed into poverty in countries with already high poverty rates

👤 Srimathi Sridharan10 Oct 2020 8:58 AM GMT
15 crore people at risk of becoming poverty-ridden: World Bank
Share Post

Washington: The World Bank has warned that 150 million people worldwide are at risk of living in extreme poverty next year due to the coronavirus pandemic.

In a statement issued on last week, World Bank Group Chairman David Malpas said, "The pandemic is estimated to push an additional 8.8 crore to 11.5 crore people into poverty this year. Depending on the severity of the economic downturn, this number is likely to rise to 15 crore next year. More than 1.4 percent of the world's population may fall into extreme poverty."

Millions more will be pushed into poverty in countries with already high poverty rates. In many middle-income countries, a significant number of people are at risk of falling below the higher poverty line. Eighty-two percent of those living in extreme poverty are from middle-income countries. Of these, the latest data on poverty in India are not available, he stated.

"Therefore, this drastic recession against growth and poverty reduction needs to be reversed. It must allow capital, labor, skills and innovation to be brought into new industries and sectors. Thereby the nations of the world must be prepared for a different post-Corona economy," he further said.

The spread of coronavirus infection in the Dharavi area of Mumbai, India has been largely prevented due to the effective attitude of the authorities, medical personnel and the cooperation of the people. The area had the maximum impact last May. In July, that is, in 3 months, the impact dropped to 20 percent. That is the consequence of an engagement and perseverance," he said.