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More people to become poor in Asia-Pacific due to fin crisis

The financial crisis is likely to trap more people in Asia and the Pacific region in ‘extreme poverty’,according to a joint report by ADB and UN.

Written by Agencies | Manila |
February 18, 2010 12:27:30 pm

The financial crisis still gripping the world is likely to trap more people in Asia and the Pacific region in ‘extreme poverty’,according to a joint report by the Asian Development Bank and the United Nations.

The report,titled “Achieving the Millennium Development Goals in an Era of Global Uncertainty: Asia-Pacific Regional Report 2009/10,said up to 17 million more people were trapped in extreme poverty last year,and another 4 million may be added this year.

The report said that while the region has made more progress than sub-Saharan Africa in meeting the Millennium Development Goals set by world leaders in 2000 with a view to tackling global poverty,its progress has been less than that of Latin America and the Caribbean. The goals include improving living standards in key areas such as education,employment and health care by 2015.

The report said progress in achieving the targets is being threatened by the global crisis,with new challenges making it especially difficult for least developed and landlocked countries,as well as the Pacific islands. Progress towards achieving the goals continues “to be left behind when it comes to crucial areas such as malnutrition,maternal and infant mortality,and access to sanitation and clean water,” ADB Vice President Ursula Schaefer-Preus told a news conference. Gains made in these areas have been stalled or even reversed,she said.

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