There is no one simple solution to eradicating poverty, but there are several strategies that can be implemented to help alleviate it. Some of these strategies include:
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Sustained, inclusive and equitable economic growth: This is identified as a key requirement for eradicating poverty and hunger and achieving sustainable development.
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Structural change: This is necessary for a permanent solution to poverty. The focus should be on helping the poor on how to survive rather than just helping them survive. This can be achieved through education, generating employment, neutralizing corruption within the government, raising awareness, and providing enough work for indigent people.
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Implementing policies geared to more equitable distribution of wealth and income and social services: An integrated strategy towards poverty eradication necessitates implementing policies geared to more equitable distribution of wealth and income and social services, as well as the lack of participation in decision-making.
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Education: Education is a powerful tool for poverty eradication. According to UNESCO, if all students in low-income countries had just basic reading and writing skills, an estimated 171 million people could escape extreme poverty. If all adults completed secondary education, we could cut the global poverty rate by more than half.
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Peacekeeping: Ending all war means that budgets allocated to cover the cost of conflict can be used to deliver poverty alleviation. The establishment of a United Nations peacekeeping operation in Cambodia in 1992 helped to forge stability within the country and grow its middle class, and the country’s poverty rate dropped from 47.8% in 2007 to 13.5% by 2014.
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Cash transfers: Cash transfers can be an effective way to alleviate poverty. For example, the GiveDirectly program in Kenya provides cash transfers to poor households, which has been shown to improve their economic well-being.
In summary, eradicating poverty requires a multifaceted approach that includes sustained economic growth, structural change, equitable distribution of wealth and income, education, peacekeeping, and cash transfers.
