Poverty Overview:

The World Bank Group is dedicated to combating poverty in all its forms. They emphasize that around
700 million people globally live on less than $2.15 per day, which is considered the extreme poverty line.
Poverty is predominantly found in Sub-Saharan Africa, conflict-affected areas, and rural regions. Despite
progress in the past, the global poverty reduction rate has slowed since 2015 due to economic
stagnation. The COVID-19 pandemic and subsequent major shocks during 2020-22 have reversed years
of progress, with low-income countries being the most affected. In 2022, the number of people living in
extreme poverty rose to 712 million, an increase of 23 million from 2019. Addressing poverty requires
tackling interconnected global challenges such as economic growth, fragility, conflict, and climate
change. Climate change, in particular, poses a significant threat to poverty reduction efforts, as it
disproportionately affects the poor. To eradicate poverty, a comprehensive approach is needed,
focusing on equitable access to health, education, infrastructure, and services, including digital.