According to experts. over 10 percent of our entire population lives in poverty. So it’s not surprising that many people and organizations want to understand how to reduce poverty in the world.
In our helpful article, we will discover some of the best ways, how others are helping and if you can help.
Let’s look briefly at some of the most important ways to reduce poverty, before delving into more detail.
So with the brief answer in mind, let’s begin our journey.
By discovering a little more about exactly how poverty is defined, it’s easier to understand how it can be reduced.
What is poverty?
The world bank not only gives us some definition as to how poverty is described but is also actively dedicated to reducing world poverty.
As mentioned on their website,
“The World Bank Group is committed to fighting poverty in all its dimensions.”
According to the world, bank poverty can be defined as not just a lack of finances.
It also encompasses those on low incomes and who don’t have the resources or ability to acquire the basic goods and services that are necessary in the modern world for survival.
Phrases such as ‘pronounced deprivation in wellbeing’ is how poverty can be described along with:
- Reduced health and education
- Lack of clean water access
- Lack of voice
- Poor sanitation
- Threats to physical security
- Little or no opportunity to change circumstances
The ‘extremely poor’ are described as existing on less than $1.90 a day or from $3.20 to $5.50 a day for those from middle-income countries.
Ok so with a little more background as to how poverty is defined, let’s begin finding out one of the most direct ways to reduce world poverty.
“The ‘extremely poor’ are described as existing on less than $1.90 a day”
Access to education
Access to quality education provides children with the knowledge and life skills they need to realize their full potential.
According to experts. Children from low-income families often do not receive the stimulation or the social skills required to prepare them for school.
Lower-income families and those living in poverty across Africa, other underdeveloped countries, and even in countries like the USA, struggle to access adequate education.
Education is essential to create change in a child’s life and reduce the poverty cycle.
Here at brothers4change, we donate 10% of your purchases and help:
- Construct new school buildings.
- Acquire water filters, providing daily clean water to students.
- Provide solar-powered lights to students, so they can study even after sunset.
“Education is essential to create change in a child’s life and reduce the poverty cycle.”
As we saw above, clean water is crucial to helping to reduce poverty by providing adequate sanitation.
By improving the management of water and other natural resources, those living in the poorest conditions canCancanpoorgovernments must invest better manage their resources.
Agriculture, food, and of course drinking water depends on growth and investment in a consistent and clean water supply.
Provide basic social services
Alongside sanitation, improving access to basic social services is an important element in how to reduce poverty in the world.
Some of the poorest countries require investment in infrastructure to enable those living in poverty to improve their financial circumstances.
Without most of the services we in developed countries take for granted such as healthcare, shelter, and enough food, poverty will remain a global issue.
Economic security means people have the skills and resilience they need to withstand hard economic times and grow their incomes.
By helping communities around the world to gain the adequate standards of economic security they need to thrive, we can begin to reduce worldwide poverty.
This also includes providing those living in poor circumstances the means to acquire skills, knowledge, and training to support their families.
Access to electricity and other power sources
In poor countries such as Bangladesh, it’s staggering to discover that in our modern world, previously very few people had access to only grid electricity.
According to recent reports, with the installation of a national grid in September 2019, electricity has now reached 93.5 % of Bangladesh’s population.
Charitable programs such as The Second Rural Electrification and Renewable Energy Development Project plans to increase access to electricity in rural areas using renewable energy and will:
- Install 1,000 solar irrigation pumps
- Give 30 solar mini-grids,
- Provide 4 million improved cookstoves in rural areas.
This particular project enables access for 10 million people living in poverty in remote areas such as villages and islands to access electricity and use energy-efficient cooking stoves.
Trade is central to ending global poverty.
Countries that are open to international trade will generally:
- Grow faster
- Improve productivity
- Are able to offer a more stable and higher income
- Offer more opportunities for its poorest population
Open trade is the key to reducing world poverty by promoting growth and prosperity as shown by countries such as Indonesia, Brazil, and Botswana.
By increasing open trade opportunities in poorer countries, lower-income households are able to access more affordable essential goods and other vital services.
“Open trade is the key to reducing world poverty by promoting growth and prosperity”
The implementation of agricultural programs and more investment into the development of rural areas can help to reduce world poverty.
According to an article by The World Bank, 82% of people living in extreme poverty in Africa live in rural areas and earn what little money they have primarily from farming.
So it’s crucial for governments to invest in and implement agricultural programs in a bid to reduce the struggles the poor and impoverished face regarding getting enough to eat.
According to a recent report, China has helped 800 million people living in poverty since 1978.
As part of its poverty reduction strategy, The Agricultural Bank of China has loaned more than $400 billion to help:
- Develop rural areas
- Fund education
- The production of crops
- Improve infrastructure
“82% of people living in extreme poverty in Africa live in rural areas and earn what little money they have primarily from farming.”
Buy from socially responsible retailers
There are other ways you can help to reduce poverty other than volunteering or sending direct donations to nonprofits.
You can do your part throughout the year by supporting businesses that give back.
During these tumultuous times, giving back to those in need has never felt more urgent and necessary.
By gifting and making essential purchases from these types of retailers, you will be able to make a difference.
Your contribution can help
Many of the best socially conscious retailers offer a percentage of purchase prices directly to charities.
With your contribution, you can help provide access to clean water, essential supplies, and education.
A socially conscious purchase will help to ease the suffering of millions in Africa and other developing countries.
By purchasing items such as electronics, home and garden supplies, and more, you too can help to reduce poverty.
If you would like to play your part in helping the poorest populations in developing countries, don’t forget to check out our store.
With a wealth of products to choose from, including health, home, sports equipment, electronics, and much more, 10% of your purchase will be donated to increase accessibility to education.
Together, we can make an impact.