Latest data on Global poverty trends indicates that nearly 700 million people around the world today live in extreme poverty, according to a report by the world Bank.
However, Between 2010 and 2019, this number fell by 40%.
The report explains that with the current figures on global poverty, it means 700million people around the world live on less than U$2.15 per day.
The global lender found that several countries are not putting in an effort to fight poverty.
“Though we have made strides in global poverty reduction, those hard-won gains faced a huge setback with the COVID-19 pandemic, which brought with it not just loss of lives and devastation, but the onslaught of shocks and crises that have resulted in about three years of lost progress in poverty reduction,” says the report.
”This means, we have lost three years in the fight against poverty,” it adds.
In the Sub-Saharan Africa region, 8.83million people became poorer indicating that overall poverty levels increased from 422.1million people to 431.54 million people.
