Poverty is general scarcity, dearth, or the state of one who lacks a certain amount of material possessions or money. It is a multifaceted concept, which includes social, economic, and political elements. Poverty may be defined as either absolute or relative. Absolute poverty or destitution refers to the lack of means necessary to meet basic needs such as food, clothing and shelter. Relative poverty takes into consideration individual social and economic status compared to the rest of society.
Poverty reduction is a major goal and issue for many international organizations such as the United Nations and the World Bank. The World Bank forecasts that 702.1 million people were living in extreme poverty in 2015, down from 1.75 billion in 1990. Of these, about 347.1 million people lived in Sub-Saharan Africa (35.2% of the population) and 231.3 million lived in South Asia (13.5% of the population). Between 1990 and 2015, the percentage of the world's population living in extreme poverty fell from 37.1% to 9.6%, falling below 10% for the first time. Nevertheless, given the current economic model, built on GDP, it would take 100 years to bring the world's poorest up to the previous poverty line of $1.25 a day.