It implies that the bank had the sole responsibility to fight poverty in the developing economies especially in the African continent (Walker, 2014, 29). Another actor is the Islamic Development Bank. It is another bank that works to fight poverty especially in Islamic states. It aims to ensure that all Muslims have equal access to social amenities like education and health. However, the Islamic Development Bank focuses on supporting Muslim community and little support to other communities. In the 21st century, many actors work towards eliminating poverty in the communities.
The agencies like the Non-governmental organizations support community programs with the aim of alleviating poverty. The NGOs work directly with communities where poverty has struck severely (Ferragina, et al, 2016, 45). However, it is worth to note that they worked directly with the community representatives to identify the most viable projects they can implement to improve the well-being of the people (Brookings Global Economy and Development, 2015, 1). On the contrary, the bilateral donors and multinational development banks worked directly with governments to introduce projects that can improve the economy of a country.
However, because of the incidences such as corruption, the governments did not spend the aid given appropriately. It implies that they did not use the donor funds to improve the well-being of the people. In this regard, the development of multiple agencies has contributed significantly to eliminating extreme poverty issues in communities. Furthermore, the private sector is another main actor in fighting corruption and eliminating poverty in the society. Global and financially stable individuals have identified best approaches to reducing poverty levels globally.
The visionary leaders have introduced creative approaches to managing poverty by developing institutions and programs that focus on engaging people to understand their needs and expectations (Anup, S 2013, 3). For instance, the Bill and Melinda Gates Foundation is one of the private programs that visionary leaders have formed with the aim of improving the global status of the people. Specifically, the foundation focuses on improving the health status of the people by providing sable healthcare system and support (World Bank, 2001, 26).
In this regard, many global actors are working towards fighting poverty. Despite the initiatives the government develops, the increasing global population requires joint approach to working towards eliminating poverty. The approach requires a vibrant approach to sponsoring various projects that can create jobs hence improve the income status of the people. The diagram below shows the poverty levels globally; (Anup, 2013, 1) Agendas of the main actors Like discussed above, the main actors in fighting poverty include bilateral donors, the multinational banks and the private sector.
The common agenda of these agencies is to reduce poverty levels in the society. To start with, the United Nations has developed the program of ensuring sustainable development. The aim is to engage in projects that can have long-term impacts in the society taking into account the growing global population (Smith, 2005, 20). It means that countries must develop strategies that go hand in hand with the strategies and objectives of the donors. The aim is to have long-term impact and strategies that can sustain the programs using the available resources.
Another agenda of these actors is to promote education system in the poverty stricken countries. Most of the countries especially in the developing economies have low education levels and this affects the economic development (Solley, 2005, 49). Therefore, the public and private sectors are working towards improving the education levels in the developing economies so that they can catch up with the developed states. One of the driving economic development factors is education (Sáez, 2005, 40).
Lack of education in the society hinders creativity and innovation that lead to the development of economic activities.
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