{"id":129661,"date":"2024-04-16T07:40:06","date_gmt":"2024-04-16T04:40:06","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/news\/covid-pandemic-made-poorest-countries-even-worse-off-world-bank-warns\/"},"modified":"2024-04-16T07:40:06","modified_gmt":"2024-04-16T04:40:06","slug":"covid-pandemic-made-poorest-countries-even-worse-off-world-bank-warns","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/en\/news\/covid-pandemic-made-poorest-countries-even-worse-off-world-bank-warns\/","title":{"rendered":"Covid pandemic made poorest countries even worse off, World Bank warns"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\" method=\"post\" data-trp-original-action=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button\" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/en\/wp-json\/wp\/v2\/posts\/129661\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <input type=\"hidden\" name=\"trp-form-language\" value=\"en\"\/><\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/en\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\nThe devastating impact of the pandemic on the world\u2019s poorest countries has brought poverty reduction to a halt and led to a widening income gap with nations in the rich west, the World Bank has warned. In a report released to coincide with its half-yearly meeting, the Washington-based organisation said half of the world\u2019s 75 poorest nations had seen income per head rise more slowly than in developed countries over the past five years.<\/p>\n<p>Urging governments and the private sector to do more to help tackle what it called a \u201cgreat reversal\u201d, the Bank said that since 2019 there had been a surge in food insecurity and debt distress. The Bank\u2019s data showed that one in three countries eligible for grants and concessional loans under its International Development Association (IDA) arm was poorer, on average, than it was on the eve of the Covid-19 pandemic. Not since the last five years of the 20th century had more than half of the poorest countries experienced income per head grow more slowly than in developed countries.<\/p>\n<p>Ajay Banga, the World Bank\u2019s president, will use the bleak findings of the report to press donors \u2013 who meet every three years to replenish IDA \u2013 to be generous. Final pledges will not be made until the end of 2024 but Banga has already said the needs of poor countries mean the next round of funding should be the \u201clargest of all time\u201d. Although countries rich and poor were affected by the pandemic, the Bank\u2019s study found the extreme-poverty rate in the most hard-pressed countries was more than eight times the average in the rest of the world. One in four people in IDA countries had to manage on less than $2.15 a day \u2013 the global definition of poverty.<\/p>\n<p>\u201cThese countries now account for 90% of all people facing hunger or malnutrition,\u201d the Bank said. \u201cHalf of these countries are either in debt distress or at high risk of it. Still, except for the World Bank Group and other multilateral development donors, foreign lenders \u2013 private as well as government creditors \u2013 have been backing away from them.\u201d<\/p>\n<p>More than half of all IDA countries \u2013 39 of the 75 \u2013 are in sub-Saharan Africa, while 14, mainly small island states are in east Asia. Eight are in Latin America and the Caribbean, and in south Asia, only India is not an IDA country. The Bank said 31 IDA countries had per capita incomes of less than $1,315 a year (\u00a31,050), while 33 were fragile and conflict-affected states.<\/p>\n<p>On the positive side, the Bank said at a time when populations were ageing nearly everywhere else, IDA countries would enjoy a growing share of young workers through 2070 \u2013 a potential \u201cdemographic dividend\u201d. They were also rich in natural resources, had high potential for solar-energy generation, and boasted a large reservoir of mineral deposits that could be crucial for the world\u2019s transition to clean energy.<\/p>\n<p>\u201cThe world cannot afford to turn its back on IDA countries,\u201d said Indermit Gill, the World Bank\u2019s chief economist. \u201cThe welfare of these countries has always been crucial to the long-term outlook for global prosperity. Three of the world\u2019s economic powerhouses today \u2013 China, India, and South Korea \u2013 were all once IDA borrowers. All three prospered in ways that whittled down extreme poverty and raised living standards. With help from abroad, today\u2019s batch of IDA countries has the potential to do the same.\u201d<\/p>\n<p>Source: <a rel=\"noopener\" href=\"https:\/\/www.theguardian.com\/business\/2024\/apr\/15\/covid-pandemic-made-poorest-countries-even-worse-off-world-bank-warns\">The Guardian<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/csr-news-en\/covid-pandemic-made-poorest-countries-even-worse-off-world-bank-warns\/\">Covid pandemic made poorest countries even worse off, World Bank warns<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[706,555,14166],"class_list":["post-129661","post","type-post","status-publish","format-standard","hentry","category-news","tag-covid","tag-csr-news-en","tag-poorest-coutries"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/129661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/comments?post=129661"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/posts\/129661\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/media?parent=129661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/categories?post=129661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/en\/wp-json\/wp\/v2\/tags?post=129661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}