The Bank helps countries work toward their development goals through a combination of data and analytical work, policy advice, financing, technical assistance, and convening power. Our experience on the ground spans countries, regions, and sectors, enabling us to promote action on the global development agenda. Our data and research serve as global public goods, helping inform policy making, operations, and development solutions; they also allow us and the wider development community to evaluate impacts and monitor progress toward shared development goals. As countries face multiple overlapping crises, our comparative advantages position us as a trusted partner in helping them work toward a sustainable recovery.
Tracking the impacts on the poorest from COVID-19, inflation, and war
Amid an uneven global economic recovery from COVID-19, the Bank continues to track the impacts on the world’s poorest people. Data suggest that 2022 is shaping up to be this century’s second-worst year in the fight against poverty because of continuing effects of the pandemic, inflation, and the war in Ukraine. Our analysis showed the pandemic has raised global income inequality—both between and within countries—and partly reversed the decline that was achieved over the previous two decades. Rising poverty and inequality carry the risks of long-term damage to human capital. We identified the national policy measures needed—along with global coordination and support—to restore progress in the fight against poverty and inequality.
We focused on inequality when convening stakeholders to address global challenges. A live event on COVID-19 and rising inequality in January 2022 featured national policy makers and global experts. The Annual Meetings 2021 event on “Growth in a Time of Crisis” presented a range of viewpoints on how to make economic growth more inclusive.
We partnered with UNICEF to explore the impact of the pandemic on children. Our joint report found that two-thirds of households with children lost income during the pandemic; in one in four households with children, adults went without food for a day or more.
Our Poverty and Inequality Platform is a new interactive tool that provides quick access to the Bank’s estimates of poverty, inequality, and shared prosperity for more than 150 economies. It allows greater user interactivity—including working with the anonymized underlying microdata to perform individual analysis—and replaces two previous tools, PovcalNet and the Poverty and Equity Data Portal, which were phased out in March 2022.