Developing countries are most at risk during – and in the aftermath – of the pandemic, not only as a health crisis but as a devastating social and economic crisis over the months and years to come. According to UNDP income losses are expected to exceed $220 billion in developing countries, and an estimated 55 per cent of the global population have no access to social protection. These losses will reverberate across societies; impacting education, human rights and, in the most severe cases, basic food security and nutrition.
To support the poorest and most vulnerable, the UN has issued a Framework for the immediate socio-economic response to COVID-19, calling for an extraordinary scale-up of international support and political commitment to ensure that people everywhere have access to essential services and social protection.
The UN COVID-19 Response and Recovery Fund aims to specifically support low- and middle-income countries as well as vulnerable groups who are disproportionately bearing the socio-economic impacts of the pandemic. Women leaders convened by UN Deputy Secretary-General Amina Mohammed have called for support for the UN roadmap for social and economic recovery and for fully funding of the UN Response and Recovery Fund.
Facts & Figures
- According to the most recent estimates, in 2015, 10 percent of the world’s population or 734 million people lived on less than $1.90 a day.
- Southern Asia and sub-Saharan Africa are expected to see the largest increases in extreme poverty, with an additional 32 million and 26 million people, respectively, living below the international poverty line as a result of the pandemic.
- The share of the world’s workers living in extreme poverty fell by half over the last decade: from 14.3 per cent in 2010 to 7.1 per cent in 2019.
- Even before COVID-19, baseline projections suggested that 6 per cent of the global population would still be living in extreme poverty in 2030, missing the target of ending poverty. The fallout from the pandemic threatens to push over 70 million people into extreme poverty.
- One out of five children live in extreme poverty, and the negative effects of poverty and deprivation in the early years have ramifications that can last a lifetime.
- In 2016, 55 per cent of the world’s population – about 4 billion people – did not benefit from any form of social protection
Goal 1 Targets
1.1 By 2030, eradicate extreme poverty for all people everywhere, currently measured as people living on less than $1.25 a day
1.2 By 2030, reduce at least by half the proportion of men, women and children of all ages living in poverty in all its dimensions according to national definitions
1.3 Implement nationally appropriate social protection systems and measures for all, including floors, and by 2030 achieve substantial coverage of the poor and the vulnerable
1.4 By 2030, ensure that all men and women, in particular the poor and the vulnerable, have equal rights to economic resources, as well as access to basic services, ownership and control over land and other forms of property, inheritance, natural resources, appropriate new technology and financial services, including microfinance
1.5 By 2030, build the resilience of the poor and those in vulnerable situations and reduce their exposure and vulnerability to climate-related extreme events and other economic, social and environmental shocks and disasters
1.A Ensure significant mobilization of resources from a variety of sources, including through enhanced development cooperation, in order to provide adequate and predictable means for developing countries, in particular least developed countries, to implement programmes and policies to end poverty in all its dimensions
1.B Create sound policy frameworks at the national, regional and international levels, based on pro-poor and gender-sensitive development strategies, to support accelerated investment in poverty eradication actions