The number of people living in extreme poverty will increase by 150 million by 2021 due to the coronavirus pandemic, the World Bank predicts.
This is the first time in more than two decades that extreme poverty in the world is growing, the Bank said in a report. Extreme poverty is defined as living on less than $ 1.9 a day. This year, more than 9% of the world’s population lives below the extreme poverty line.
According to the Bank, most of the “new poor” will appear in countries where the level of poverty is already high, and most of the growth will be in the middle-income countries – this category includes more than 80% of states.
“A pandemic and a global recession could push 1.4% of the world’s population into extreme poverty,” said David Malpass, head of the World Bank. According to him, the World Bank is ready to help countries recover from the pandemic.