The World Bank Group announced 60 million people could fall into extreme poverty due to the coronavirus pandemic, erasing three years of progress globally.
The World Bank announced Tuesday that the coronavirus pandemic has hit 100 countries and 70% of the population.
“The pandemic and shutdown of advanced economies could push as many as 60 million people into extreme poverty—erasing much of the recent progress made in poverty alleviation,” World Bank Group President David Malpass said in a statement.
More than 734 million people or 10% of the world’s population were living in extreme poverty in 2015.
The World Bank previously estimated 49 million people moving into extreme poverty this year.