December 3, 2020
2 mins read

Poverty to hit 1 Billion people by 2030: UNDP

Severe long-term effects of the COVID-19 pandemic could push an additional 207 million people into extreme poverty on top of the current pandemic trajectory, bringing the total to over 1 billion by 2030, according to findings released today by the United Nations Development Programme, UNDP. This is not a foregone conclusion: with a focused set of investments towards achieving the Sustainable Development Goals, SDGs, an additional 146 million people could be lifted out of extreme poverty compared to current COVID-19 trends.

The study, part of a long-standing partnership between UNDP and the Pardee Center for International Futures at the University of Denver, assesses the impact of different COVID-19 recovery scenarios on the SDGs, evaluating the multidimensional effects of the pandemic over the next decade.

The ‘Baseline COVID’ scenario, based on current mortality rates and the most recent growth projections by the International Monetary Fund, IMF, would result in 44 million more people living in extreme poverty by 2030 compared to the development trajectory the world was on before the pandemic.

Under a ‘High Damage’ scenario, where the recovery is protracted, COVID-19 is likely to push an additional 207 million people into extreme poverty by 2030, and increase the female poverty headcount by an additional 102 million compared to that baseline, says the report. The High Damage scenario anticipates that 80 percent of the COVID-induced economic crisis would persist in 10 years’ time due to loss in productivity, preventing a full recovery to the growth trajectory seen before the pandemic.

However, the study also finds that a focused set of SDG investments over the next decade in social protection/welfare programmes, governance, digitalization, and a green economy could not only prevent the rise of extreme poverty, but actually exceed the development trajectory the world was on before the pandemic.

This ambitious, yet feasible ‘SDG Push’ scenario would lift an additional 146 million people out of extreme poverty, narrow the gender poverty gap, and reduce the female poverty headcount by 74 million, even taking into account the current impacts of the COVID-19 pandemic.

“As this new poverty research highlights, the COVID-19 pandemic is a tipping point, and the choices leaders take now could take the world in very different directions. We have an opportunity to invest in a decade of action that not only helps people to recover from COVID-19, but that re-sets the development path of people and planet towards a more fair, resilient and green future,” said UNDP Administrator Achim Steiner.

Also Read: PLIGHT OF PAKISTAN: 50 per cent of population below poverty line

Also Read: World Bank chief praises G20 progress on debt relief

Previous Story

Media Tycoon Jimmy Lai Denied Bail In Fraud Case

Next Story

Rajini Ready For Political Plunge

Latest from -Top News

Pakistan, Afghanistan Seek Calm

The Doha talks are seen as a crucial step in de-escalating hostilities, addressing security concerns, and preventing further civilian casualties along the Afghanistan-Pakistan border. Afghanistan and Pakistan have agreed to an immediate

India invites Rishi Sunak to its AI summit in 2026

India to host world’s first Global South AI summit in 2026, with Ashwini Vaishnaw inviting Rishi Sunak to join global talks on responsible, inclusive artificial intelligence. India’s Union Minister for Electronics and

Kerala CM, Bahrain Deputy PM discuss boosting ties

Chief Minister Pinarayi Vijayan’s Bahrain visit deepens Kerala’s engagement with the Gulf, focusing on trade, investment, and diaspora welfare as both sides reaffirm shared interests in development and cultural exchange. Kerala Chief

Kerala CM begins Gulf tour

Kerala CM Pinarayi Vijayan begins Gulf tour in Bahrain, engaging expatriate community and promoting welfare initiatives for NRKs, strengthening diaspora ties and showcasing Kerala’s development achievements….reports Asian Lite News Kerala Chief Minister
Go toTop