Between 88 million and 115 million people are likely to fall back into extreme poverty as a result of the COVID-19 pandemic in 2020.
The recently released Poverty and Shared Prosperity Report 2020 by the World Bank Group indicates that between 88 million and 115 million people could fall back into extreme poverty as a result of the COVID-19 pandemic.
This is in addition to an increase of between 23 million and 35 million in 2021, potentially bringing the total number of new people living in extreme poverty to between 110 million and 150 million.
The report shows that the new poor are more urban, better educated, and less likely to work in agriculture than those living in extreme poverty before COVID-19.
The World Bank Group has stepped up its support for regions in which extreme poverty is increasingly concentrated such as SSA.