ADB to propose new poverty threshold for developing Asia
Friday, April 25, 2014
The Asian Development Bank (ADB) intends to propose a new poverty threshold for developing Asia to better reflect the state of poverty in Asia-Pacific region.
In a policy paper titled “Midterm Review of Strategy 2020: Meeting the Challenges of a Transforming Asia and Pacific,” the ADB said the internationally accepted $1.25-a-day poverty threshold is lower than the poverty lines set by developing countries in Asia and the Pacific.
Based on this poverty threshold, poverty incidence in Asia and the Pacific is projected to drop below 1.5 percent by 2024. But since this is based on the $1.25 poverty line, the ADB said this conclusion may be misleading.
“Poverty in Asia and the Pacific has to be redefined in light of these issues. The ADB will undertake further research on these issues and propose a more appropriate poverty threshold that reflects the development context and aspirations of people in the region,” the ADB said.