World Poverty Falls Below 750 Million, Extreme Poverty Concentrates in Sub-Saharan Africa

Although still a very long way to go, a new report from the Bill and Melinda Gates Foundation and The World Bank states that the global population living in extreme poverty has fallen below 750 million for the first time since the World Bank began collecting global statistics in 1990, a decline of more than 1 billion people in the past 25 years. The World Bank defines “extreme poverty” as living on less than $1.90 a day, or about $694 a year - which is based off a measure of poverty determined as the amount it takes to afford a person's minimal basic needs.

According to the report, Nigeria and the Democratic Republic of Congo—will be home to 44% of people living in extreme poverty by 2050 in their respective countries.


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