World Bank: Local Poverty Down Sharply

Since the establishment of the Kingdom of Cambodia in 1993, the number of people living on less than $0.50 a day has been reduced from 47 percent of the population to 35 percent, the World Bank an­nounced Thurs­day.

The World Bank made the an­nouncement at the launch of its East Asian Update report.

Though the UN definition of a per­son living in extreme poverty is someone who lives on less than $1 per day, World Bank Country Man­­ager Nisha Agrawal said the $0.50 indicator provides a more ac­curate assessment of poverty, be­cause Cambodians need $0.50 per day to meet their basic needs.

The World Bank based its as­sessment on an unofficial 2004 So­cio-Economic Survey conducted by the government.

The 2004 survey results also led the World Bank to estimate that the number of Cambodians living on the equivalent of $1 a day had plummeted to 18.4 percent.

In April, the World Bank estimated that 42 percent of the population was surviving on the equivalent of $1 per day, based on its own estimates and previous government data.

“This is very, very good news for Cambodia,” Agrawal said at a


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