Posts Tagged Poverty
Bangladesh to receive $1B IMF loan for poverty reduction
Posted by Bilal Mirza in Current Affairs, Poverty, Research on September 7, 2010
To finance the Second National Strategy for Accelerated Poverty Reduction (NSAPR-II) programme launched this year, IMF will be providing $1B soft loan to Bangladesh. The delegation, led by IMF director Anoop Singh, came to Bangladesh to discuss the loan issue with the government and it is expected that the international financial organisation will give its decision by December or January, Mr Muhith said. “The money can be spent on social safety net programme, agriculture, communications or employment generation activities,” Mr Muhith said. Presently, the NSAPR has revenue and expenditure gap of about $6 billion and the IMF will provide $1 billion, Mr Muhith said.
UNRISD criticized progress towards MDGs
Posted by Bilal Mirza in Current Affairs, Poverty on September 4, 2010
A recent surprising criticism from UN Research Institute for Social Development (UNRISD) in its 360 page report, Combating Poverty and Inequality, surfaced stressing “A number of critical issues and obstacles to overcoming poverty have not been addressed (in MDGs)”. The report focused on the need in shift away from the safety nets and welfare programs and devising new ways to address income inequality.
The report also shows how poverty outcomes are shaped by complex interconnections of ideas, institutions, policies and practices in the social, economic and political spheres. Full report is available on UNRISD link.
Philippines get $400m in Anti-Poverty Loan by ADB
Posted by Bilal Mirza in Current Affairs, Poverty on September 3, 2010
Philippines – a country struggling to meet its poverty alleviation goals set in Millennium Development Goals (MDGs), received $400m as anti-poverty loan from the Asian Development Bank. The government will have 25 years to pay the loan, which carries an interest rate based on the ADB’s London interbank offered rate-based lending facility. There will also be a commitment charge of 0.15% per year. ADB country director Neeraj Jain said the $400-million loan was a symbol of the strong partnership between the bank and the Philippine government in investing on human capital.
What is your point of view on the East Asian economy with growing poverty rates and its anti-poverty loan access from the ADB? What should be the priorities of the Phillippines government for next decade in order to control the growing poor classes? Please leave your comments below and do not forget to rate the story.