Coronavirus can lead 60 million people to extreme poverty

The crisis unleashed by the Covid-19 pandemic and the closure of developed economies can lead to extreme poverty for 60 million people worldwide, undoing much of the progress made in recent years in the fight against the relief of poverty, as the president of the World Bank has warned,David Malpass.

“The pandemic and the closure of advanced economies could push up to 60 million people into extreme poverty, erasing much of the recent progress made in alleviating poverty,” said Malpass, who noted that the institution has already established operations emergency with a hundreddeveloping countries,that host 70% of the world population.

Of these 100 countries, 39 are in sub-Saharan Africa and almost a third correspond to projects in countries in fragile or conflictive situations such asAfghanistan, Chad, Haiti and Niger.

This assistance, the fastest response to a crisis in thehistory of the institution,marks a milestone in the implementation of the World Bank promise to make available $ 160 billion (€ 143.38 billion) in grants and financial assistance over a period of 15 months to help developing countries respond to the economic impact, health and social of the Covid-19 and the economic closure of advanced countries.

“To return to growth, our goal must befast and flexible responsesto deal with the health emergency, provide liquidity and any other support to protect the poor, keep the private sector and strengthen economic resilience and recovery, “said Malpass.

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