Around 700 million people live on less than $2.15 per day, the extreme poverty line. Thats Inconceivable!!!This is what Global poverty is. Global Poverty reduction was dealt a severe blow by the COVID-19 pandemic and a series of major shocks during 2020-22, causing three years of lost progress. Low-income countries were most impacted and have yet to recover. It encompasses the lack of access to basic necessities such as food, clean water, education, healthcare, and shelter. Income Inequality, is considered as the primary cause of not being able to lower poverty level. The gap between the rich and the poor in many parts of the world is leading Wealth to concentrated in the hands of a few, leaving large portions of the population without access to necessary resources. Poverty is more prevalent in certain regions, particularly in Africa and South Asia. Lack of quality education is both a cause and effect of poverty. Education is crucial for breaking the cycle of poverty, as it provides individuals with the skills and jobs.
Unemployment is a significant factor in poverty. Another reason for non-diminishing of poverty is Poor health and lack of access to medical care. Diseases and malnutrition are more common in these areas, leading to higher mortality rates and reduced productivity. Many communities suffer from food insecurity, meaning they do not have reliable access to a sufficient quantity and nutritious food. This leads to malnutrition, particularly in children, which has long-term effects on health and development. Lack of access to clean water and proper sanitation facilities is a major issue. Environmental changes disproportionately affect the poor, who are less able to adapt to disasters such as floods, droughts, and other climate-related events. Jobs and employment are the surest way to reduce poverty. United Nations have taken up the challenges to end poverty in all its forms everywhere by 2030. This includes efforts to provide better access to resources, education, healthcare, and economic opportunities. Organizations such as the World Bank and various NGOs is working work to provide financial aid, infrastructure development to reduce poverty. Microfinance, provide them small loans and financial services to start businesses and improve their economic situation. Microfinance has been particularly effective in empowering women in many developing countries. Rapid globalization has impacted very highly on Global Poverty reducing it from 35% to 10%. For example, a woman in rural areas of Africa is making a jewellery and sending it to seller and when it is sold, the money that the women receives is leading to an increase in family income, seeing which others are also encouraged. The Global poverty remains one of the most pressing issues of our time, requiring coordinated efforts from governments, international organizations, and communities to create sustainable and equitable solutions.