More than 1.1 billion people live in poverty

The United Nations Development Programme (UNDP) has announced that 1.1 billion people living in 110 countries around the world are struggling with poverty.

By its resolution adopted on December 22, 1992, the United Nations General Assembly declared October 17 as the International Day for the Eradication of Poverty.

On October 17, the UNDP in its report for 2020-2023 notes that from 2020 to 2023, the poverty rate in low-income countries has increased, and an additional 165 million people will live on less than $3.65 a day.

The report highlights that five out of every six poor people in the world live in Sub-Saharan Africa or South Asia. According to the UN, 47.8% of the population in Sub-Saharan Africa is fighting poverty, while in South Asia, this figure stands at 34.9%.

UN experts believe that improving the situation and combating poverty requires more than $14 billion. These funds will be directed towards debt repayments and financing social expenditures.