The World Bank Group today unveiled a comprehensive package of initiatives to address urgent poverty and hunger, aiming to enable vulnerable populations to increase earnings, enhance resilience against climate shocks, and promote empowerment for women and girls.
The World Bank Group announced an ambitious plan to scale up social protection programs. Working alongside partners, the organization aims to support at least 500 million people in developing countries by 2030, with half of those being women and girls. The initiative will utilize innovative cash transfer systems designed to ensure resources reach those in need directly while combating corruption and waste.
The Bank Group will serve as the lead knowledge partner for the G20 Global Alliance Against Hunger and Poverty, established by Brazil. This partnership aims to generate solutions for hunger and coordinate knowledge exchange globally. Additionally, new diagnostics will provide country-by-country insights on hunger, poverty, and social protection coverage to aid governments in making 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 is already a primary source of grant and concessional funding aimed at fighting 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 worldwide face hunger. The World Bank Group plans to tailor interventions based on specific country needs using a mix of proven social protection programs that help poor families gain a decent livelihood and overcome extreme poverty and hunger. These programs include basic income support, access to seed capital, savings training, coaching, mentoring, addressing adverse climate impacts through social protection measures, and advancing gender equality.
The World Bank Knowledge Academy will collaborate closely with countries to share these evidence-based solutions.
Contacts:
In Washington: David Young; +1 (202) 250 0395; dyoung7@worldbank.org
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