The era of rapid reductions in global extreme poverty came to an end with the COVID-19 pandemic. The global goal of cutting the extreme poverty rate to 3 percent by 2030 had slipped out of reach. A new World Bank’s report, "Poverty, Prosperity, and Planet", identifies overlapping crises and gives governments a comprehensive framework to monitor progress, identify new pathways to success, and choose the right policy priorities.

Among the key findings of the report:

• Global poverty reduction has slowed to a near standstill, with 2020–30 set to be a lost decade.

• Nearly one in five people are at risk of experiencing welfare losses due to an extreme weather event from which they will struggle to recover.

• The global environment is facing multiple and interconnected crises or a “polycrisis”: from slow growth prospects and high levels of debt to increased uncertainty, fragility, and polarization.

How can governments speed up the progress on ending extreme poverty and boosting shared prosperity on a livable planet? This event will explore solutions and recommendations for policymakers.

Join us to discuss potential pathways out of the polycrisis.

https://www.wu.ac.at/en/ineq/worldbankreport