Financing the reduction of extreme poverty post-Covid-19

This briefing note is an update to ODI’s research on the role of international public finance in eradicating poverty around the world – Goal 1 of the Sustainable Development Goals (SDGs). It is perhaps more critical now than ever before in the context of the global pandemic caused by the novel coronavirus 2019 (Covid-19): the longer-term effects on the world’s poorest are becoming increasingly clear. Drawing mainly on recent World Bank estimates, the projections in this briefing suggest that 680 million people will still be in extreme poverty by 2030. This is an increase of more than 250 million people compared to our projections just one year ago – an extraordinary increase of 58%. It is also nearly 10 million more than the estimated numbers of people in poverty in 2018.