Printed on Mon May 16 2022 7:53:48 AM

'Half of country's urban households are at risk of poverty'

Staff Correspondent
risk of poverty
Half of the country's urban households are at risk of poverty. And, eight percent of the city's poor do not benefit from any kind of social security scheme. This information has come up in a report of the World Bank published on Thursday.

The World Bank says that many well-off are involving in various allocations which are mainly for the rural and urban poor, adding that it is important to increase proper management and monitoring in this sector.

According to a World Bank report on government spending on social security, it is taking too long for social security allocations to reach beneficiaries. Although 19 percent of the city's population is poor, only 11 percent are covered by various social security schemes.

The report also said that 20 percent of the elderly beneficiaries and 38 percent from the employment program are receiving benefit even though they are not poor.

Alain Koduel, the chief economist at the World Bank, said: At the same time, care should be taken so that the real beneficiaries get the benefits of these projects. Above all, transparency must be ensured in the implementation of the project.

Attending a virtual event to release the World Bank's report, economists say urban workers and street children need to be covered by social security schemes. In addition, under social security, they urge to ensure that the real poor get the benefit.

BRAC chairperson Hossain Zillur Rahman said, "We see that the coverage of social security is increasing during Corona. However, nominal benefits are being provided under these projects. We need to make further improvements in this area by increasing the allocation."

Binayak Sen, director-general of the Bangladesh Institute of Development Studies (BIDS), said, ‘Effective decentralization of social security projects should bring people across the country to its advantage. At the same time, a National Social Security Council should be formed to coordinate the projects.

The World Bank says investing in one in eight children will help alleviate poverty in the long run.

Voice TV/IA
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