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UMBRELLA FACILITY FOR POVERTY AND EQUITY

Background

Although there has been marked progress on reducing poverty over the past decades, the number of people living in extreme poverty remains unacceptably high. In much of the world, growth rates are too slow, and investment is too subdued to increase median incomes. In addition, war, economic shocks, food insecurity, climate change, and global health crises threaten progress.

In fact, global extreme poverty rose in 2020 for the first time in over 20 years as the disruption of the COVID-19 pandemic compounded the forces of conflict and climate change, which were already slowing poverty reduction progress. About 100 million additional people are living in extreme poverty as a result of the pandemic. There is a need to build effective resilience to protect against and recover from future shocks.

To address these issues, the Umbrella Facility for Poverty and Equity (UFPE) is the first global trust fund to support the cross-cutting poverty and equity agenda.


Our Objective


The objective of the UFPE is to inform and support the design, implementation and monitoring and evaluation of policies and programs to reduce poverty and promote equity.


Our Value

With a cross-cutting poverty and equity agenda, the Umbrella Facility for Poverty Equity aims to:


Value-UFPE-7

Strengthen coordination

Strengthen strategic coordination and global partnerships on poverty and equity.

Value-UFPE-5

Bring poverty to the forefront

Bring poverty and equity considerations to the forefront of the World Bank Group’s country engagements.

Value-UFPE-1

Leverage resources

Leverage The World Bank Group and government resources to amplify impact through systematic application of poverty and equity lens to policies and programs.

Value-UFPE-3

Promote innovation

Promote innovation to address new poverty and equity challenges and support scale-up of proven solutions.

Value-UFPE-2

Convene local experts

Create policy-relevant global public goods and facilitate “localization” of global expertise for improved country outcomes.

Value-UFPE-4

Facilitate knowledge sharing

Facilitate knowledge sharing and learning at country, regional and global levels.






Woman fruits

Man scattering rice grains