Expanded ambition and partnership with the G20 Global Alliance Against Hunger and Poverty to reach at least 500 million people in need
Rio de Janeiro, Brazil, July 24, 2024 ¨C ľ¹ÏÓ°Ôº Group today unveiled a comprehensive package of initiatives to address urgent poverty and hunger, and enable vulnerable people to increase earnings, enhance resilience against climate shocks, and promote empowerment for women and girls.
ľ¹ÏÓ°Ôº Group announced:
- An ambitious plan to scale up social protection programs, working alongside partners to support at least 500 million people in developing countries by 2030¡ªaiming for half of those to be women and girls. To reach this goal, we are utilizing innovative cash transfer systems that ensure those in need receive resources directly, while combatting corruption and waste;
- The Bank Group will be the lead knowledge partner for the G20 Global Alliance Against Hunger and Poverty, established by Brazil. This will generate hunger solutions and coordinate knowledge exchange alongside Brazil for the benefit of all countries;
- New diagnostics that will provide country-by-country insights on hunger, poverty, and social protection coverage so governments can make informed decisions.
¡°Put simply: hunger and poverty are intertwined. We need to take them on and work hard to rid our world of both,¡± said Ajay Banga, World Bank Group President. ¡°Our social protection programs are aimed at putting meals on the table, protecting livelihoods, and helping poor families pay for basic health services and education for their children. Achieving this ambition will require strong collaboration among countries and partners such as the Global Alliance, to share knowledge and boost financing.¡±
As part of the initiative, the International Development Association (IDA), the Bank¡¯s fund for those most in need, will make financing available for countries to use on policies that respond to hunger and poverty. IDA already is the main source of grant and concessional funding to fight poverty and hunger.
According to figures released today by the Food and Agriculture Organization of the United Nations (FAO), the International Fund for Agricultural Development (IFAD), the United Nations Children¡¯s Fund (UNICEF), the World Food Programme (WFP) and the World Health Organization (WHO), more than 700 million people across the world face hunger. ľ¹ÏÓ°Ôº Group will continue to tailor interventions based on countries¡¯ specific needs, using a mix of social protection programs that have proven to help poor families gain a decent livelihood and overcome abject poverty and hunger. Those include basic income support, access to seed capital, savings and training, coaching and mentoring. Building on the latest evidence, it will also leverage social protection as a tool to address adverse climate impacts and advance gender equality. ľ¹ÏÓ°Ôº Knowledge Academy will work closely with countries to share these evidence-based solutions.
