NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Thursday, June 19, 2014

Today, nearly half of the world lives in poverty, including nearly a quarter of Californians. The United States, like every nation, grapples with the challenge of income inequality. Colombia is no different.

But our use of technology to change the lives of millions of our citizens has the potential to transform the way the world thinks about lifting those in need out of poverty.

With a population of 47 million, Colombia is the third-largest country in Latin America and has the third-largest economy in South America. Once unimaginable, Colombia can now boast steady GDP growth of nearly 5 percent on average over the past few years and an unemployment rate that has decreased from 12 percent to just over 8 percent.

While Colombia’s transformation has ushered in a new era of prosperity, poverty remains one of the most critical challenges we face.

Through a series of government actions, over the last decade the poverty rate in Colombia has decreased from 60 percent to 30 percent. Clearly, there has been progress, and we are currently unleashing one of the most innovative and scalable plans that could not only help reduce poverty in Colombia but the world over: Plan Vive Digital.