Over the last few years, we have seen several NGOs and other organisations step up in terms of support and aid for countries and communities in need. Following the dire effects of the pandemic and conflict, the world is in desperate need of change - quickly.
The first of the United Nations set a series of United Nations Sustainable Development Goals (SDG's) with the first one being to end extreme poverty in all forms everywhere by 2030.
In 2021, Dr Sanduk Ruit and I founded the Tej Kohli & Ruit Foundation. At the heart of the Tej Kohli & Ruit Foundation is the idea that curing needless blindness can assist an individual out of poverty.
Whilst the efforts of NGOs like the Tej Kohli & Ruit Foundation is supporting thousands of people worldwide, support is also needed from governments. This week, the UK government released their Sixth Special Report regarding Extreme poverty and Sustainable Development Goals.
In the government's response, they discuss efforts and plans on how poverty will be tackled in line with the United Nations Sustainable Development Goals. In the report, it states that:
"Aid alone is not sufficient to tackle the world's development challenges. There is a huge financing gap to reach the SDG's".
The report goes on to discuss how there are plans to invest in nations to support their economies, raise incomes and lift people out of poverty. They go on to say: "We plan to mobilise £8 billion of UK-backed finance per year by 2025".
Extreme poverty, defined as living on less than $1.90 per day, is one of the most pressing issues of our time. Despite significant progress over the past few decades, there are still over 700 million people living in extreme poverty. Governments play a crucial role in addressing this issue, and there are a number of ways in which they can assist in ending extreme poverty.
- Investing in education: Education is one of the most effective ways to break the cycle of poverty. Governments can invest in education by increasing access to schooling, improving the quality of education, and providing financial support for low-income families. This can help individuals develop the skills and knowledge needed to secure better jobs and improve their economic prospects.
- Creating job opportunities: Governments can help end poverty by creating job opportunities for their citizens. This can be achieved through a variety of means, such as investing in infrastructure projects, offering tax incentives to businesses, and providing training programs to help individuals develop the skills needed to enter the workforce.
- Providing social safety nets: Social safety nets, such as cash transfers and food subsidies, can help provide a basic level of support for individuals and families living in extreme poverty. These programs can help alleviate immediate financial stress and provide a foundation for individuals to build better lives for themselves and their families.
- Supporting small businesses: Small businesses are often the backbone of local economies, and supporting them can help create jobs and improve economic conditions. Governments can support small businesses by offering loans, providing training and mentoring programs, and reducing bureaucratic barriers to starting and operating a business.
- Investing in healthcare: Access to healthcare is a basic human right, and lack of access can lead to increased poverty and decreased economic opportunities. Governments can invest in healthcare by increasing funding for healthcare facilities, improving the quality of care, and providing financial support for low-income individuals and families.
In conclusion, ending extreme poverty is a complex issue that requires a multifaceted approach. Governments have a crucial role to play in this effort, and by investing in education, creating job opportunities, providing social safety nets, supporting small businesses, and investing in healthcare, they can help lift millions of people out of poverty and improve the lives of countless others. By working together, we can build a world where extreme poverty is a thing of the past.
To find out more about the Tej Kohli & Ruit Foundation and what we do visit: www.tejkohliruit.com.
To read about Tej Kohli as an investor visit Kohli Ventures.
Find out more about Tej Kohli: Tej Kohli the technologist investing in human triumph, Tej Kohli the philanthropist trying to cure the developing world of cataracts and Tej Kohli the London tycoon with a generous streak.
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