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Some Poverty Alleviation Indices Have Remain Unchanged Since 1960 – World Bank

The World Bank has raised the alarm that efforts to eradicate poverty have remained stagnant as some alleviation indices have remained unchanged since the 1960s.

At an event to mark the 25th Anniversary of the International Day to Eradicate Poverty, the World Bank said that education, which was a major determinant of poverty alleviation, had stalled for decades.

The bank expressed worry that only 12 per cent of today’s youths have more education than their parents.

According to findings by an upcoming report of the bank, “the social status of one’s parents is as influential today as it was 50 years ago in determining a person’s future.”

Focusing squarely on how one generation’s education can make or break the next generation’s success, the preview paper put together the first pieces of the “economic mobility puzzle”.

The study called for urgent need for investment in early childhood development, education access and quality, maternal and child health, nutrition, infrastructure, water and sanitation, to improve mobility and build human capital.

Giving a breakdown of some of the bank’s findings, the World Bank’s Senior Director (Poverty and Equity), Mrs Carolina Sanchez, in a video conference said that education from generation to generation had stalled over the last half-century.

“Only about half of people born in an average developing economy in the 1980s have more education than their parents – showing no improvement when compared to those born in the 1960s.