Extreme poverty in sub-Saharan Africa is on the rise: WB’s Malpass

The number of people living in extreme poverty in sub-Saharan Africa is rising. Urgent action is needed from the countries themselves and institutions, according to the newly elected president of the World Bank, David Malpass.

David Malpass made these comments during the World Bank press conference at the ongoing spring meetings of the International Monetary Fund and World Bank Group in Washington.

He added that nine in every ten extremely poor people across the world will be Africans come 2030.

According to Malpass, this development will jeopardise the World Bank’s goal to end extreme poverty by that time.

Malpass further noted that the World Bank will work with the African countries to outline funding programmes in coordination with other lenders, referring that he already met with officials in multi-lateral development lenders from Europe, Africa, and Asia to determine the continent needs.