News: World Bank Group and UN Children’s Fund(UNICEF) has released a report titled “Global Estimate of Children in Monetary Poverty”.
Key Highlights from the report:
- An estimated 1 in 6 children globally lived in extreme poverty(surviving on less than $1.90 a day) before the pandemic and this is set to worsen significantly.
- Sub Saharan Africa accounts for two-thirds of children living in extreme poverty.South Asia accounts for nearly a fifth of these children.
- The number of children living in extreme poverty decreased between 2013-2017 by 29 million.
Recommendations: Governments should scale up and adjust their social protection systems and programmes to prepare for future shocks.This includes:
- Innovations for financial sustainability
- strengthening legal and institutional frameworks
- protecting human capital
- expanding child and family benefits such as paid parental leave and quality child care for all.
- UNICEF: It is a United Nations agency responsible for providing humanitarian and developmental aid to children worldwide. Headquarters: New York City, US.