What does PPED mean in DEVELOPMENT

Pro Poor Economic Development is an approach to economic development which aims to reduce economic inequality and improve the lives of people living in poverty. It focuses on addressing a range of issues such as poverty reduction, income and wealth distribution, labor market policies, public sector investment, public-private partnerships, international trade agreements and technology adoption.

Pro Poor Economic Development brings a number of benefits including reducing income inequality, improving access to basic services and infrastructure for people living in poverty, improving access to financial resources and capital markets for those without access or limited opportunity for growth within existing economic systems. In addition it can also create new job opportunities that are well-paid while allowing entrepreneurs from poor backgrounds increase their incomes and lift their families out of poverty.

Pro Poor Economic Development can be implemented through a variety of strategies including strengthening fiscal policies such as progressive taxation; providing direct support to low-income households through subsidies or cash transfers; expanding access to health care; investing in education; reducing trade barriers; providing targeted support for smallholder farmers/ entrepreneurs/ women-owned enterprises; encouraging private sector investments in economically disadvantaged communities; identifying ways to link microfinance institutions with macroeconomic policies / programs etc.

The success of pro poor economic development can be measured using indicators that measure various aspects such as levels of extreme poverty; the percentage of people with access to basic services (such as water); per capita income/ expenditure levels; adult literacy rates; gender disparities in terms employment opportunities/ wages etc. Other indicators that could be used include infant mortality rates/ malnutrition levels/ environmental quality measurements etc.

Some challenges associated with pro poor economic development include the difficulty in designing policies that effectively target beneficiaries due to inadequate data on population characteristics; limited local capacity/ administrative capacity among government agencies responsible for implementation; lack of appropriate policy guidance or coordination between different stakeholders involved in implementation at different levels (local/ national); lack sustainability given limited resources available for financing programs etc.