GRADUATING 21 MILLION MORE PEOPLE OUT OF EXTREME POVERTY
The need to combat extreme poverty and drive systemic change has never been more urgent. The impact of COVID-19 has created a humanitarian crisis of catastrophic proportions putting millions of the world’s poorest people at risk of being left behind without resources or support to overcome the shock.
While the reach of COVID-19 may be global, the impact it is having on different populations varies. At the beginning of 2020, an estimated 700 million people lived in extreme poverty around the world. By the end of 2020, more than 70 million people could be forced to join them, unraveling decades of progress toward poverty alleviation.
We must act with urgency and design programs that meet the increasing and evolving needs of those living in extreme poverty – programs that are comprehensive, adaptive, and immediate but for long-term needs – to build resilience and support sustainable recovery.
BRAC’s Audacious idea is to scale our proven Graduation intervention through government adoption, accelerating the rate of change and lifting 4.6 million households, over 21 million people, out of extreme poverty over the next six years. The solution to reaching millions more people living in extreme poverty and creating change at the systems level is clear: Governments must take the helm and be equipped to scale up and sustain the Graduation approach.
Graduation is the first scalable solution proven to break the poverty trap. It combines a sequenced and time bound set of interventions customized to meet multidimensional needs of those in extreme poverty within the local context. It comes down to a set of four core “pillars” for success, suitable for diverse contexts that can also be built into and complement existing government programs:
Meeting Basic Needs
Finance & Savings