4 steps to ending extreme poverty | Shameran Abed

TL;DR

Discover the innovative graduation approach pioneered by BRAC that tackles ultra-poverty and helps millions lift themselves out of despair.

Transcript

We are witness to monumental human progress. Over the past few decades, the expansion of the global marketplace has lifted a third of the world's population out of extreme poverty. Yet we are also witness to an astounding failure. Our efforts to lift people up have left behind those in the harshest forms of poverty, the ultra-poor. What it means to... Read More

Key Insights

• 🌍 Expansion of the global marketplace has lifted a third of the world's population out of extreme poverty over the past few decades.
• 💔 Traditional poverty reduction efforts have failed to address the needs of the ultra-poor, who lack not only income and assets but also hope, dignity, and self-worth.
• 📈 The number of people living in ultra-poverty worldwide reached 400 million by the end of 2019, and this number spikes even higher during times of crisis.
• 🔎 The graduation approach pioneered by BRAC addresses both income poverty and the poverty of hope, focusing primarily on women who are most affected by ultra-poverty but also most likely to uplift themselves and their families.
• 💡 The graduation approach includes meeting basic needs, providing assets and livelihood training, teaching financial literacy, and promoting social integration.
• 🚀 Over two million Bangladeshi women have lifted themselves and their families out of ultra-poverty through the graduation program, with 92% maintaining or increasing their income, assets, and consumption even years later.
• 💰 Governments already allocate billions of dollars to poverty reduction programs, but many of them fail to reach the poorest or have long-term impact. Engaging governments and scaling graduation programs can maximize the impact of these funds.
• ⭐ The late founder of BRAC, Fazle Abed, believed in the power of optimism and self-belief to transform lives. We have the opportunity to continue lighting that spark and build a world without ultra-poverty.

Questions & Answers

Q: What is the global impact of the expansion of the global marketplace?

The expansion of the global marketplace over the past few decades has lifted a third of the world's population out of extreme poverty.

Q: How many people were living in ultra-poverty worldwide by the end of 2019?

By the end of 2019, about 400 million people were living in ultra-poverty worldwide, which is more than the populations of the United States and Canada combined.

Q: What is the graduation approach to addressing ultra-poverty?

The graduation approach, pioneered by BRAC, addresses both income poverty and the poverty of hope. It involves meeting a woman's basic needs, providing her with an asset and livelihood training, teaching her to save and invest her new wealth, and helping her integrate socially.

Q: Can the graduation approach have long-term impact?

According to researchers at the London School of Economics, even seven years after entering the program, 92 percent of participants had maintained or increased their income, assets, and consumption, indicating the long-term impact of the graduation approach.

Q: How does BRAC plan to scale the graduation program globally?

BRAC aims to engage governments and help them adopt and scale graduation programs themselves. By working with governments and utilizing the billions of dollars already allocated to poverty reduction programs, BRAC plans to help another 21 million people lift themselves out of ultra-poverty in eight countries over the next six years.

Summary & Key Takeaways

• The expansion of the global marketplace has lifted a third of the world's population out of extreme poverty, but efforts to lift people out of poverty have left behind the ultra-poor, who are stripped of their dignity and live in isolation.

• BRAC, a poverty reduction program, addresses both income poverty and the poverty of hope through a four-step approach primarily targeting women. This approach has helped millions of people lift themselves out of ultra-poverty.

• Governments already allocate billions of dollars to fight poverty, but much of it is wasted. BRAC aims to engage governments to adopt and scale graduation programs to help another 21 million people out of poverty in eight countries over the next six years.