The presence of poverty adds to these factors and makes the economic scenario worse for the developing nations. Thus one of the essential reforms in the developing nations is reducing the level of poverty.
Strategies for poverty reduction in a country include the various macroeconomic policies and social programmes that help in reducing poverty and stimulating economic growth. The social and structural programmes for reducing poverty in developing countries are designed after analysing the multidimensional effects of poverty. The ultimate objective of these policies is raising the quality of life of the poor. Generally such policies are associated with a deep involvement of the civil society. The civil society's participation in the policies promotes the national ownership of the poverty reduction strategies. Poverty is a deep-rooted problem for any nation. Hence the strategies taken for its eradication also involve a long time horizon. This is the reason for the long-term perspective of poverty reduction strategies (Poverty Reduction Strategy Papers, 2008).
Various strategies are followed for poverty eradication in developing nations. The most popular among them is Ownership strategy. ...
ntribute to the problem of poverty is the unequal distribution of economic resources, since this unequal distribution denies the access of economic resources to the poor. The ownership strategy of poverty reduction aims at an appropriate distribution of economic resources in the developing countries.
The strategy of sustainable development also helps to eradicate poverty. Sustainable development refers to the development of a nation which can meet the needs of the present generation without hampering the future generation's ability to meet its own requirements. This concept of sustainability has been used to address the issue of poverty in several developing nations. But this concept has not been seamlessly accepted throughout the economic and social science schools of the world (Sustainable Development: Implications for World Peace, n.d.).
The most popular poverty eradication strategy of recent times is the building of natural assets. The idea behind this strategy rests on the fact that reducing poverty helps in securing the natural environment of a nation. As economic and political leverage has penetrated the low-income communities, they are able to take proper care of the environment and protect it from any kind of damage or harm.
Role of NGOs in Eradicating Poverty
The developing countries have taken to the task of poverty reduction with utmost sincerity. This is the reason that major steps for the eradication of poverty are being taken by the International Non-Government Organisations in the recent times. The potential role of NGOs in eradicating poverty was realised in the year 2000. In 2000, the United Nations Millennium Goals (MDGs) was signed, in order to significantly reduce poverty levels. According to the terms declared in MDG the UN