Education is one of the most powerful instruments for reducing poverty and inequality and lays a foundation for sustained growth but unfortunately about 800 million people across the world lack the basic reading and writing skills needed to accomplish simple tasks such as reading a medicine label or filling out a job application, costing the global economy more than $1.19 trillion a year.
According to a new report, Economic and social cost of illiteracy
(a) The cost of illiteracy to the global economy is estimated at US$ 1.19 trillion
(b) 800 million people across the world lack the basic reading and writing skills
(c) Illiterate earn 30%-40% less than their literate counterparts
(d) Globally over 100 million children don’t go to school each day
The report looks at the cost at the cost of illiteracy in emerging and developing countries, as well as the cost of functional illiteracy in developed world. it reveals that globally, over one in five people can’t read or write and more than 100 million children don’t go to school each day. No matter whether you live in the developed or developing world, poor illiteracy is running lives and is linked with an array of poor life outcomes, such as poverty, unemployment, social exclusion, crime and long term illness.
So MNM Foundation aimed to put in place a sustainable action plan to deal with the problem of illiteracy of poor children and in slum areas.
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