Establishing social protection for all
Ensuring access to home ownership for all
Scaling up access to basic services
Increasing financial inclusion
Over 800 million people around the world, i.e. the equivalent of the entire European population, live on less than 1.25 dollars a day and struggle to meet their most basic needs (health, education, access to water…). South Asia and Sub-Saharan Africa are home to 70% of people living in extreme poverty. To end extreme poverty around the world in 20 years, the economist Jeffrey Sachs has calculated that the total annual cost would stand at some USD 175bn. This amounts to less than 1% of the combined revenues of the richest countries in the world.
The fight against poverty is one of the guidelines for AFD’s mandate in its countries of operation. It includes the themes addressed in all the other Sustainable Development Goals, hence its multidimensional nature. Its specificity lies in the fact that the focus is on extreme poverty, on the poorest who find themselves on the margins of society and are de facto excluded from the system. It involves implementing tools to specifically reach these populations, such as microcredit for example. These tools will allow them to escape from exclusion.
In 2016, AFD’s financing reached EUR 9.4bn. The vast majority of funded projects contribute to poverty reduction. It is a priority for the Group.