Medical staff take samples for COVID-19 testing in Pitha village, India (Photo: Reuters) |
In a new report released on Thursday, the ADB said an estimated 155 million people in developing Asia, or 3.9% of the region’s population, were living in extreme poverty as of last year, 67.8 million more than would have been the case without the health and cost-of-living crises.
Developing Asia consists of 46 economies in the Asia-Pacific region but excludes Japan, Australia, and New Zealand.
ADB Chief Economist Albert Park said Asia and the Pacific is steadily recovering from the COVID-19 pandemic, but the increased cost-of-living crisis is undermining progress toward eliminating poverty.
Extreme poverty is defined as living on less than 2.15 USD a day, based on 2017 figures.