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

By Leora Klapper

The COVID-19 pandemic threatens to wipe out hard-won gains in global development and gender equality. The World Bank reports that the world faces its first increase in extreme poverty since 1998, with between 71 million and 100 million people set to fall into destitution depending on the pandemic’s course, and the crisis affecting women more negatively than men.

Governments are scrambling to contain the economic damage. As of June 12, World Bank data indicates that 195 countries have planned, introduced or adapted more than a thousand safety net payments and other social protection measures for the most vulnerable populations.

Photo courtesy of Stars Foundation.