2016 Annual World Bank Report: A Summary for Economic Development Project
This report will focus on the annual general report finding by the World Bank o their efforts to eradicating extreme poverty from the face of the earth. The repost will explain on the various strategies that the World Bank has put in place in improving the lives of the poor individuals. Also the issue on gender inequality will be focused on in this report. We will see what the World Bank intends on the subject matter and their strategies in ensuring gender equality and that women are given equal opportunities and the men in a given region.
Strategies undertaken by world bank in addressing extreme poverty and promote sustainable growth
Poverty has been recognized as a global tragedy that affects mostly the areas of the sub Sahara and East Asia among other parts. Statistically, by 2013 a total of 13% of all the people in the world were living under the international poverty line which according to World Bank is people able to spend $1.90 a day. This rate was way too lower that the rate they had measured in the year 1990 where the total number of people who were living below the poverty line were 37% of the world’s population. Most countries in all the regions have been making progress in trying to eradicate poverty from their countries but the major increase of poverty level in two of the largest regions in the world, china and India, have led to such statistical drop from 37% to 13%. As a result, the World Bank estimated that with the national current growth rates, the poverty statistics are expected to drop to a below 10% by 2015. As a result they enacted the strategy of coming up with goals that can be used to eradicate poverty in the world. These goals were referred to as the Sustainable Development Goals. Through these goals, the World Bank is aimed at determining the recognition of poverty based on a nation’s authority as different nations have their own ways of recognizing their poverty lines. And through this, they can be able to measure the progress of the methods used in the eradication of extreme poverty. The World Bank also through the sustainable development goals aims at providing social protection to the regions that are affected by extreme poverty. Social protection can be defined through its programs that include social assistance which includes transferring of cash to help the nation’s economy, feeding of students in the schools, and assisting nations that have been affected with food crisis by giving them food to feed the nation. The World Bank also aims at helping nations to find economical ways of their own so that they can help the nation improve their economic status which will drop the poverty levels much further. This is through the social insurance and labor market programs which include pension provision to the old and retirees, pension that is given to the individuals with disabilities. Through this targeted social protection programs to the people who are in need can prove worthwhile in the reduction of poverty in those targeted regions.
Opinion on the region that made the most progress
In my own opinion, the based on the projections by the World Bank portray that the entire world for the first time the level of extreme poverty has greatly reduced to a rate of less than 10% of the entire world population. This is considered as a significant drop from 37 % in the 1990s.even though a large number of people still are living below the average of 1.90 dollars a day, the number of lives that have changed due to the strategies the world bank had set in place to eradicate extreme poverty have been reduced largely. Even though a large number of people still are living below the average of 1.90 dollars a day, the number of lives that have changed due to the strategies the world bank had set in place to eradicate extreme poverty have been reduced largely. Although the war on eradicating extreme poverty is far from over as there still a couple of challenges that prevent the world bank achieve their goals of dropping the extreme poverty rates to below 2% by the year 2030 but in the 15 year period a lot has been done and it can be considered as a win situation from the world bank point of view as the world bank through the sustainable development goals has been able to improve on maternal mortality and reduce on the deaths caused by diseases like tuberculosis and HIV/AIDS. Basing on the reports of 2000, most children were dying and infants were at the mercy of tropical diseases such as malaria and in such life of death situations, the world bank has been able to come up with ways to provide medical services to these affected individuals and in the long run able to save lives. And the region that has improved a lot is the East Asia and the pacific region which the number of cases of extreme poverty reduced from 966 million individuals to 71 million by 2013, a drop of 56 % in the region.
Opinion on which region had the least progress
On an overall account, the number of cases for individuals living under extreme poverty conditions has improved from the 1990 nut the improvement has least been felt in the sub-Saharan region. In 1990, the region had 287 million people who were victims of extreme poverty as to the statistics taken by the World Bank group. In the year 2013, the extreme poverty level in this region had only been reduced by 13 %. The reason for this small drop as compared to the other regions like the East Asia and pacific regions is because the sub-Saharan region is in the list of less developed countries. The LCDs are affected by many variants that inhibit them from dealing with extreme poverty effectively. First, their nations lack the development plans that can be used to improve on the economy of the nation which in turn improve the income levels of its citizens taking a step forward in eradicating extreme poverty. Also these countries are faced with factors such as corruption and capitalism which has great negative influence on the nation’s economy making poverty an immovable stone in the path to development. In the region are affected by tropical diseases that are lethal to the mortality rate. Such diseases include malaria and tuberculosis and HIV/AIDS and they had a huge effect in the reduction of the mortality rate in the regions. Also in these regions, the schooling and education by the youth and children has been poor, having low numbers of children getting quality education. Getting quality education is a tool for improving the economy of the nation as when a nation has many learned intellects in leadership roles, then they can be able to make important decisions on the development of a nation and through this the nation by itself will enact ways on which they will improve on the lives of its citizens and in the long run poverty levels will be reduced.
Strategies aimed at closing the gender inequality gap
Research and studies have provided evidence over and over gain overtime on the numerous advantages and goo that comes as a result of a nation valuing girls as much as boys. Giving the both genders equal attention and opportunities, either by investing in girls as much as boys in their health, education and acquisition of skills through efficient and applicable training programs. When women are given equal opportunities especially in the participation in the economy, to manage incomes from different sources of income, own their own business; the benefits that will be ripped from this are far much greater as they extend from the individual girl or woman to members of their families and children, to their communities and the economy at large.
The World Bank has a vision of gender equality on a global perspective. It invested in giving both boys and girls equal opportunities and the empowerment of the girl child is critical to the economy and also morally upright. This strategy put the works on a path that is ambitious and in the improvement of the opportunities that are presented to women.
Through consultations from the private sector, governments, organizations in the civil society of 22 counties the world bank builds a strong and important factor what is backed up by evidence that the issue of gender inequality poses a critical factor to the inhibition of a country from reaching its full potential. Their evidence shows that nations that have done away with gender inequality are seen to prosper more than nations that are still stuck in the age of undermining the girl child. The new strategy of World Bank towards gender equality is built on four objectives which all of them are aimed at reduction of maternal mortality, moving to a world that everyone is considered equal to the other the complete closure of the gaps in education and health that still exist between the boys and girls in the world. This strategy will enable the creation of opportunities to all the women, giving them better jobs, enabling women have the ability and right to own the important assists such as land, hosing and finances therefore giving the women the ability of making themselves heard on their opinions on various issues affecting their families, the community and the economy in general. The World Bank gender equality strategy is also aimed in the transformation of the lives of the individuals of both genders and leveling the playing field.
Has the World Bank done enough in improving the lives of the poor?
According to the report that is provided, the World Bank are doing an important job in improving the lives of the poor. Their sustainable development goals that they developed to ensure that the extreme poor induvial are helped so that they world takes step further in ensuring that all the individuals are in a better position of proving for themselves and their families. The social protection programs where the World Bank provides food for the needy, give schooling to the nations what are in need of it has resulted in the saving of more lives and also the reduction in the numbers of the individuals that are below the international poverty line. Through the data collected in the report, it is seen that the poverty rates have dropped from 37 % to 10 % during a period of about 20 years. This is a major improvement even though some individuals still can’t afforest the rate of $1.90 a day. Also, the number of lives that have been saved through the World Bank in situations of life and death has increased from 21 million to 29 million. This shows progress in the helping of the individuals.
Areas to improve on
If I was a policy maker in the World Bank group, I would focus on the economic prowess of the nations that are affected by extreme poverty. Giving of food to these individuals and provision of basic needs is not bad but showing them how to make a living from their own opportunities based on the regions they come from is better as when the pace is set then these individuals will work together to better the living conditions in their nation.