Millions of people around the world are living on less...

Millions of people around the world are living on less than $1 a day. In light of criticisms accusing the World Bank of favoring corporate and elite interests in developing countries, the organization conducted a study and concluded that its efforts to combat poverty will not be effective without empowering the poor to have more political influence. The bank, which is owned by 181 countries including the US, acknowledged that economic growth alone will not solve the problem of global poverty due to the existing political and economic structures that favor the wealthy and powerful. According to the report, empowering the impoverished by increasing their responsiveness and access to state and social institutions is a crucial component of poverty reduction.

Tuesday, 12 September, 2000