The World Bank estimates that in 2015 700 million people were living in extreme poverty under the updated international poverty line of USD 1.90 a day, and that about one billion people rose out of extreme poverty between 1990 and 2015 (World Bank, 2016). Global income inequality declined between 2000 and 2015, with the global Gini decreasing from 75 per cent to 62 per cent (World Bank, 2016). Levels of income inequality have fallen in some countries, especially in Latin America, while in others they have risen, especially in high-income countries (World Bank, 2016). Globally, wealth inequality has also increased: almost half of the world’s wealth is now owned by just one percent of the population (Hardoon, 2015). Despite progress on reducing health and income inequalities, large inequalities in health, education, and nutrition persist within and across both social groups and different regions within countries (UNDP, 2015). High levels of poverty and inequality have been found to be detrimental to people’s quality of life and life opportunities, and to countries’ growth and security (Ravallion, 2009; Hulme, 2010; CPRC, 2009; Ostry et al.,2014; Stewart, 2010).