KATHMANDU, March 18 (Xinhua) -- Nepal is more significantly reducing poverty compared to its economically strong neighbor, India, according to a report developed at the University of Oxford and adopted by United Nations Development Programme (UNDP).
Although India made noteworthy improvement in reducing poverty between 1996 and 2006, its economically poorer neighbours like Nepal and Bangladesh progressed at a rate three times higher than itself,the report developed on the basis of Multidimensional Poverty Index(MPI) read.
The MPI includes poverty indicators such as years of schooling, nutrition, child mortality, covered floor and water availability.
The report, released right on the heels of UN's latest development report published last week, also predicted that countries under the poverty line, such as Nepal, could eradicate acute poverty within 20 years if they continue progressing at the present rate of poverty reduction.
The poverty reduction rates of Nepal, Bangladesh and India were marked at 4.1 percent, 3.2 percent and 1.2 percent per year respectively, the report read.
It has tagged countries like Nepal, Bangladesh and Rwanda as" star performers." Bolivia, Cambodia, Ghana and Tanzania were also found to have reduced poverty significantly.
The UN has identified international and national aid and development projects investing in schools, health posts, infrastructures and water as the primary key factors for the significant reduction in poverty.
"The success of Nepal and Bangladesh in reducing poverty despite their relatively low income highlights the effectiveness of social policy investments combined with active civil society engagement," Dr Sabina Alkire, director of the university's Human Development Initiative,said in the report.
A total of 1.6 billion people are living under the MPI with most of the poorest living in South Asia. India is home to 40 percent of the people under poverty index while sub-Saharan Africa houses 33 percent,the report said.