South Asia Subregional Economic Cooperation Vision: Powering Asia in the 21st Century

High growth rates during the precrisis period have helped South Asia reduce poverty rates and raise living standards. But despite gains in alleviating poverty, the number of poor people in the region continues to be high. It was estimated that as of 2012, about 294 million people, or approximately 21% of the combined population of Bangladesh, Bhutan, India, the Maldives, Nepal, and Sri Lanka—the six countries comprising the South Asia Subregional Economic Cooperation (SASEC) Program—live on less than $1.90 a day.3 Addressing pervasive poverty will be particularly challenging for South Asia as it strives to sustain its growth momentum and, more importantly, ensure that this growth is inclusive.