The World Bank’s 2024 report, “Poverty, Prosperity and Planet,” presents a sobering forecast for global poverty reduction efforts. At the current rate, lifting half of the world’s population out of poverty could take over a century. This projection underscores the urgent need for effective international development strategies to address global poverty reduction challenges.
The report reveals that nearly 40% of the global population lives below $6.85 a day, with recent economic setbacks worsening this outlook. Limited access to education, job opportunities and resources creates significant barriers to economic advancement for many individuals, hindering global poverty reduction progress.