9 Oct 2019 - Bangladesh has made significant progress in poverty reduction, with around 8 million people having come out of poverty in the country from 2010-2016, according to World Bank (WB).
“Bangladesh has come a long way in a short time in its fight to end poverty. In 2016, about 1 in 4 Bangladeshis were poor. Bangladesh halved poverty rates in a decade and a half, lifting over 25 million people out of poverty. From 2010-2016, about 8 million Bangladeshis were lifted out of poverty,” said the report.
The report, titled “Bangladesh Poverty Assessment, Facing old and new frontiers in poverty reduction,” was unveiled by WB at a Dhaka hotel on Monday.
The reduction of poverty and improvement to living conditions was mostly driven by labour income, and 90% of the poverty reduction was in rural areas, WB said in the report.
However, 54% of the people are vulnerable to falling back into poverty, it added.