Standard Bank backs One Young World summit in Cape Town
The bank will sponsor 61 delegates as the event returns to African soil for the first time in 13 years.
In an impressive 12-year span from 2011 to 2023, India managed to lift an estimated 496 million people out of extreme poverty, according to the World Bank's Poverty and Equity Brief. The share of people living in extreme poverty in India fell dramatically, from 27.1% in 2011 to just 2.6% in 2023. This significant improvement also extended to the lower-middle-income poverty threshold of $4.20 per day, with the proportion of people living below this threshold declining from 57.7% to 16.1% over the same period.
The World Bank attributed this remarkable progress primarily to strong consumption growth, rising employment, especially among women, and expanded social transfers such as food subsidies.
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