World Bank report puts $11.4bn price on off-grid solar

According to the World Bank’s October 2026 Poverty and Equity Brief, India has experienced one of the fastest declines in poverty globally. Between 2011 and 2023, an estimated 496 million people were lifted out of extreme poverty, with the population living below that threshold falling from 27.1 per cent to 2.6 per cent. The World Bank attributed this progress to rising employment, particularly for women, expanded social transfers such as food subsidies, and strong consumption growth.

The decline was also noted at the lower-middle-income poverty threshold of $4.20 per day, which dropped from 57.7 per cent to 16.1 per cent between 2011 and 2023. While poverty levels are projected to continue declining, the World Bank noted that the pace may slow, estimating that poverty at the $4.20-a-day threshold could fall from 14.2 per cent in 2026 to 12.1 per cent by 2028. These figures are indicative estimates based on microsimulations and may change as new macroeconomic and labour market data is released.

In other developments, Bangladesh has signed a $450 million financing agreement with the World Bank's International Development Association to support the restructuring of its banking sector, enhance supervisory capacity, and strengthen the nation's financial sector safety net. Additionally, Moneyweb reports that estimated investments include approximately $1.3 billion annually in subsidies and grants, alongside $1.6 billion in receivables, debt, equity, and financing each year.

Brief written by urgent.news from Moneyweb, Qatar Tribune Business, Dhaka Tribune Business — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.