Appraisal of World Bank Poverty Reduction Strategies

Appraisal of World Bank Poverty Reduction Strategies.

ABSTRACT

Poverty is a phenomenon the world over that has come to stay. The emphasis now is on how to manage and live with it. Poverty is the state where basic essentials needed to live a tolerable like is denied.

Every group of persons in a country is important in the development process. If not contributing positively, it will certainly do so negatively.

Thus every group must be taken into consideration in any economic development plan and for equitable distribution of the dividend of democracy.

The rural women, children and farmers are the worst hit by poverty. The plight of these people is an indictment of decades of neglect.

Part of the functions of the World Bank is the reduction of rural poverty. The Bank’s poverty-reduction strategy is a two-tracked one consisting of economic growth and investment in people.

The strategy lays more emphasis on the latter because adequate management of this would lead to the former. The strategy participation of the rural poor in policies that affect them.

The plan indicates an awareness of the need to shift emphasis to the development of the rural women and farmers by empowering them as much as possible.

For proper rural development, the rural women/farmers need to be empowered because their activities are vital to sustain them, their area and the nation in general.

INTRODUCTION

BACKGROUND OF THE STUDY

But for those less fortunate, freedom means little when it is freedom only to live their lives in misery and want if during the last hundred years, greater effort had been devoted towards improving conditions in the less developed areas of the world,  we might not today be witnessing so much social unrest and possibly not even hostilities.

I  suggest  that  it  is  the  existence  of widespread poverty and misery which stimulated the spread of the virus now threatening the peace of the world.”

These are the words of the then president of the World Bank, Eugene Black spoken in 1950. They gave indications of the institution’s enduring concern with the reduction of global poverty.

People all over the world- in Asia and Africa in particular live in abject poverty that is why we experience incessant social unrest in  these areas  which  appears  to be unending.

This has  recorded  a long  time  scary  event  in  the  world’s  history  of  massive  genocide  in  Rwanda, Somalia’s civil war appears to be without end, to mention but a few.

Stay a while and think, have we ever reasoned why such events seems only to be taking place in less privileged nations? The answer of course will point at one phenomenon- POVERTY.

REFERENCES

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Alkali, R.A (1997). The world Bank and Nigeria. Baraka press, Kaduna, Nigeria.

An Economic survey of three villages in Zaria province (1992). Vol I paper 37. Institute of Agricultural Research, Samaru ABU Zaria.

Bonsu, O.S.W (1983). Alternativeapproachesandstrategiesto rural development in Africa and their implications. TheNigerianJournal of development studies, Vol 3, No 1&2.

Economic perspective (2003). Millenium Challenge Account. A new compact for global development. An electronic journal of the US Department of state, Vol 8, No 2, March.

Economic assessment of tractor use in subsistence agriculture: Morogoro region, Tanzania.

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