A Review on the Best Practices of Poverty Reduction in DevelopingCountries

Abstract

Due to its detrimental effects on human wellbeing,
extreme poverty, which exists in many developing
nations, is a serious issue that requires immediate
attention. It entails inadequate food and nutrition,
inadequate housing, unsafe drinking water, low
literacy rates, high rates of infant and maternal
death, high unemployment, and a sense of
helplessness and vulnerability. Reducing poverty
can be accomplished through increasing
employment and educational opportunities for the
underprivileged; implementing institutional and
economic reforms to increase productivity and
optimize resource use; endorsing microfinance
initiatives to lift barriers to small-scale business,
innovation, and entrepreneurship; and creating
and refining marketing strategies to boost output.
Conducting this review is based on an analysis of
old and recent literature. It looks at the
development and meaning of poverty.
Additionally, based on current discussions on the
idea, the review shows the disparities in
interpretations in developing nations and
emphasizes the varied viewpoints regarding the
concept of poverty