Eliminating extreme poverty for all people by 2030 is one of the most important global goals. Between 2015 and 2018, the world made strong progress, and poverty levels continued to decrease steadily. The global poverty rate dropped from 10.1% in 2015 to 8.6% in 2018. However, this progress was disrupted by the COVID-19 pandemic, which caused a sudden rise in poverty. The poverty rate increased from 8.3% in 2019 to 9.2% in 2020, marking the first rise in extreme poverty in many years and setting global progress back by nearly three years.

The COVID-19 pandemic reversed the positive progress made over the last 25 years. This situation became even worse due to rising inflation and global conflicts such as the Ukraine war. As a result, millions of people faced financial struggles, job losses, and lack of basic needs. It is estimated that around 75 to 95 million more people were living in extreme poverty in 2022 compared to earlier expectations, highlighting the urgent need for support and action.