Future’s bleak for world’s poorest 20%
KUALA LUMPUR: Development aid is failing to improve the lives of the poorest 20% of the world’s population, according to a report published yesterday that predicted growing global inequality.
Poverty rates were halved under the United Nations Millennium Development Goals, which were adopted in 2000 and replaced in 2015 with 17 Sustainable Development Goals to end poverty, inequality and other global crises.
However, the overall drop in poverty rates has been accompanied by a widening income gap between the most impoverished and the rest of the population. “It’s not to say we are not doing good things with that aid money, but we’re not using it as effectively as we could, if our ambition is genuinely to end extreme poverty,” said Amy Dodd, a development finance expert. |