At the beginning of 2020 just over 588 million people are living in extreme poverty, meaning that approximately 7.7% of the global population lives below the international poverty line of $1.9 per day. It means 588 million people presently have lack of basic assets and do not see a return on the assets they have. They are lacking behind with poverty due to poverty cycle. Hence today I am going to tell you about the poverty cycle.
The cycle of poverty begins when a child is born into a poor family. These families have no resources or limited resources to create opportunities to advance themselves which leaves them stuck in the poverty cycle. Because of this they will lose the opportunity to get educated. Lacking education will lead them to be unoccupied or to they will not get a sufficient income to complete their requirements. Hence it leads them their families to be poor. Therefore, their children will also be poor, and they will also not have sufficient resources to complete their requirements. Children living in poverty are more likely to experience illness due to unsafe water and poor sanitation, malnutrition, lack of access to education and inadequate health care.
So how can we break this poverty cycle. One of the best biggest contribution to ending the poverty is ensuring children’s education. For any child education can open doors to the future that would otherwise be locked wise be locked tight. Children’s who are not in school are at greater risk of exploitation and early marriage. They are on track for a much lower income once they grow up. This limits the future for their own children, thus repeating the cycle of poverty generation after generation.
However, even the most basic education reading, writing and arithmetic can open doors to futures that would otherwise be shut. Adults with even a basic education are better equipped to run a business for example, to keep accurate records and to secure loans to expand their ventures. They can read correspondence from potential business partners and write responses.
Breaking the poverty cycle is a complex process but one thing seems consistent. A child’s parents have the greatest influence on her economic well-being. World Vision works to raise the economic well-being of individual households, helping to break the poverty cycle within that family. People whose businesses are blossoming hire others to help them, breaking the cycle of poverty for other families. In time, the entire community is lifted.
Using these approaches, we empower people to start their own businesses, learn savings habits and improve their farming. This in turn helps them provide for their families.
Short-term solutions don’t end poverty and our goal is to eradicate it completely. This means empowering people to lift themselves out of poverty. At World Vision, we’ve found that the most powerful way to do this is by working together. Therefore, ladies and gentlemen let’s sponsor people and help them to be eradicate from their poverty.
