"100 million people around the world will fall into poverty because of coronavirus"- World Bank warns
Some 100 million city dwellers around the world are likely to fall into poverty because of the coronavirus pandemic, the World Bank has warned. Densely populated cities are on the front line of the outbreak - especially in slums where people are lacking running water, sewage systems or health care, urban experts said. Those problems will become harder to solve because cities will see a drop of 15 to 25 per cent in tax revenues as a result of the crisis, it is feared. 'Within cities we need to focus on those who need help the most, the poor and the vulnerable have been very seriously affected,' said Sameh Wahba, a global director for the World Bank. 'Our estimate is that there will be possibly upward of a 100 million so-called "new poor" on account of loses of jobs and livelihoods and income,' Wahba told reporters. Many cities lack accurate data about slum areas, making it difficult to know where investments should be targeted, experts say. A World B...