EDITION
  • English
  • 中文
  • Bahasa
  • eCommerce
Sunday, March 26, 2023
uLearnMoney Subscription Events
No Result
View All Result
Money Compass

EDITIONS:

Media and partner organizations:

cmc bmc ulearnmoney mylife mcm asncommerce mcm
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
Subscription Newsletter
Money Compass
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
No Result
View All Result
中文 Bahasa eCommerce
Money Compass

Fight against poverty set back at least two years – ADB

by moneycompass
August 26, 2022
in Global Market News
The Asia and the Pacific region's fight against poverty has been set back by at least two years, according to the Asian Development Bank (ADB).

Source: jcomp via freepik

Share on FacebookShare on WhatsApp

The Asia and the Pacific region’s fight against poverty has been set back by at least two years, said the Asian Development Bank (ADB).

The bank revealed in its “Key Indicators for Asia and the Pacific 2022” report that the setback was caused by the COVID-19 pandemic with the likelihood that many of those who live in the region will find it more difficult than ever to climb out of poverty.

Additionally, ADB said that if the pandemic had not happened, the region’s economic growth for this year was expected to reduce the rate of those in the extreme poverty segment, which is defined as living off less than US$1.90 daily, to a level that would have been reached in 2020.

Furthermore, the bank said that simulations of data also revealed that individuals in the region who had lower levels of social mobility, also known as the ability to overcome poverty, may endure more severe and long lasting setbacks as a result of the pandemic.

According to the ADB, the Covid-19 crisis halted a decades-long trend of declining poverty in Asia and the Pacific.

Apart from that, the bank also said that although economic conditions are improving, the overall progress has been uneven.

ADB also stated that the pandemic may also have exacerbated forms of poverty other than income. This includes food security as well as inadequate access to health services and education.

The bank’s chief economist, Albert Park, said that the poor and vulnerable group have been the ones badly impacted by COVID-19 and even though economies are recovering, many individuals may find it even more difficult to get out of poverty as compared to before.

For that, he suggests that the governments in the region should concentrate on resiliency, innovation, and inclusion in order to give everyone more balanced economic opportunities as well as social mobility.

 

Join our Telegram group for the latest updates!

 

Read more: Poverty line to be revised with comprehensive data – Mustapa

Tags: AsiaAsia-PacificAsian Development Bank (ADB)Poverty
ShareSendShareSendTweetShare
Previous Post

Talks on ESG framework for manufacturing sector underway

Next Post

LONGi Completes 2MW Floating Project in Saraburi Province, Thailand

Related Posts

Global Market News

Kenanga: The Fed’s massive interest rate rise may continue to put pressure on the ringgit

09 Nov 2022
Global Market News

The ringgit opens higher on the prospect of China reopening, as markets rallied

09 Nov 2022
Ringgit/USdollar
Global Market News

Ringgit opens lower versus the US dollar

11 Oct 2022

Discussion about this post

MOST POPULAR

  • online food delivery

    Online food delivery market to see robust growth over next 4 years

    0 shares
    Share 0 Tweet 0
  • Top 10 Financial Tips For Starting A Family

    0 shares
    Share 0 Tweet 0
  • Frost & Sullivan Reveals Top Internet of Things Platforms Poised for Growth

    0 shares
    Share 0 Tweet 0
  • 10 Ways to Curb Overspending

    1 shares
    Share 0 Tweet 0
  • FORTUNE RELEASES ANNUAL FORTUNE GLOBAL 500 LIST

    0 shares
    Share 0 Tweet 0

MEMBERSHIP SUBSCRIPTION

Subscribe Now

Sign Up for Our Free Newsletters

Stay up-to-date with the latest personal wealth-related articles, breaking financial market news, and more.

Follow us on Social Media

News
Special Feature
Compass
Money Tube
Smart Lifestyle
Corporate Profile
Advertise
Subscriptions
Career
Contact Us
eLearning
Events
Privacy Policy
Terms of Use
Strategic Partners

Copyright © . Money Compass. All Rights Reserved.

Design and Development by Ant Internet Sdn Bhd

No Result
View All Result
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE

© 2020 Money Compass

Career

SUBSCRIBE FREE NEWSLETTER