THE East Asia and Pacific region, which includes the Philippines, was one of the best performers in shared prosperity, according to the World Bank.
In a statement on Wednesday, the World Bank said the incomes of the poorest 40 percent of the population grew on average 4.7 percent between 2010 and 2015.
In the Philippines mean consumption income per capita increased by 2.43 percent, below the regional average, between 2009 and 2015.
“East Asia not only had the largest reductions in extreme poverty, but also in the proportion of people living on less than $3.20 and $5.50 per day. While extreme poverty is very low, the region saw a higher percentage of people lacking access to sanitation,” the World Bank said.
The report also goes beyond monetary measures of poverty to understand how access to adequate water and sanitation, education, or electricity affect a family’s well-being.
The World Bank said since the burdens of poverty often fall most heavily on women and children, the report also analyzed how poverty can vary within a household.
World Bank data showed that 10.61 percent of the population was deprived of drinking water in 2015; 9.13 percent, electricity; 6.78 percent, sanitation; 6.58 percent, money; 4.52 percent, educational attainment and 4.4 percent, educational enrollment.
The World Bank remains committed to achieving the goal of ending extreme poverty, defined as living on less than $1.90 a day, by 2030. The share of the world’s population living in extreme poverty fell to 10 percent in 2015, but the pace of extreme poverty reduction has slowed, the Bank warned.
However, given that economic growth means that a much greater proportion of the world’s poor now live in wealthier countries, additional poverty lines and a broader understanding of poverty are crucial to fully fighting it, the report said.
“Ending extreme poverty by 2030 and boosting shared prosperity are our goals, and we remain committed to them,” said World Bank Group President Jim Yong Kim.
“At the same time, we can take a broader view of poverty at different levels and dimensions around the world. This view reveals that poverty is more widespread and entrenched, underlining the importance of investing in people,” he added.
While rates of extreme poverty have declined substantially, falling from 36 percent in 1990, the report’s expanded examination of the nature of poverty demonstrates the magnitude of the challenge in eradicating it.
The Washington-based lender said almost half the world’s population—3.4 billion people—still struggles to meet their basic needs.
Living on less than $3.20 per day reflects poverty lines in lower-middle-income countries, while $5.50 a day reflects standards in upper-middle-income countries, the World Bank said in its biennial Poverty and Shared Prosperity Report, “Piecing Together the Poverty Puzzle.”
Over 1.9 billion people, or 26.2 percent of the world’s population, were living on less than $3.20 per day in 2015. Close to 46 percent of the world’s population was living on less than $5.50 a day.