Ending extreme poverty is possible, says the World Bank after announcing its commitment for a 'Poverty Free World' by 2030 as it observed the International Day for the Eradication of Poverty on 17 October.

Victoria Kwakwa, World Bank Vice President for East Asia and Pacific, who visited Fiji to mark the occasion, says that the World Bank Group’s latest figures (to 2013) show an astounding 1.1 billion people worldwide escaping extreme poverty since 1990.

Although the fall in extreme poverty is good news, there are still almost 800 million people living on less than $1.90 per day in 2013. Alarmingly, half of these people are children with most having nearly no education.

In East Asia and the Pacific, the number of extreme poor fell from half of the global total to 9.3 percent from 1990 to 2013, particularly in China and Indonesia.

Ms Kwakwa is meeting with emerging leaders while in Fiji to discuss ideas on development challenges, priorities and solutions to address extreme poverty in the region.

“Our most recent flagship report pointed toward inequality as a persistent barrier to progress and one that we will have to tackle if we want to achieve our goals.”

Globally, the figures are mixed with the gap between all people shrinking since 1990 although populous countries like China and India influence the figures as they catch up to the richer countries.

While the inequality gap is closing, Ms Kwakwa says that it is still far too high across the world and “important concerns remain around the concentration of wealth among those at the top of the income distribution.”

“We cannot rely solely on economic growth to change the situation. A country’s growth must benefit the poorest the most, and unlock opportunities for today’s extreme poor to get better jobs, access better quality services, and lay the foundations for the next generation to escape the confines of extreme deprivation.”

Already, policymakers in the region have taken steps to wipe out the remaining pockets of poverty and tackle inequality of opportunity, and countries such as Papua New Guinea and Timor-Leste are providing young people access to skills and education they may have missed out on opening up opportunities for future employment.

“I believe it is possible to end extreme poverty by 2030 and boost shared prosperity among the poorest 40 percent in every country. We look forward to continuing our work with all partners – citizens, governments, civil society, and the private sector. Together, we can do it – we must do it,” said Ms Kwakwa.

In Tonga, the Asian Development Bank reported last month that some 22.5% of Tonga’s population live below the national poverty line. Compared to 13 other Pacific countries, Tonga ranks at 12 with the Marshall Islands rating the highest (1) at just over half of the population living below the national poverty line. 

Related article: Over 23,000 Tongans living in poverty [2]