Quito, November 27 (NNN-RHC)-- Ecuador's successful efforts to decrease poverty and narrow the income gap since 2006 has won recognition by the United Nations Development Program (UNDP).
Its success has been attributed to the nation's development initiatives known as The Good Living, or Buen Vivir, introduced by President Rafael Correa after he was elected president in 2007.
Ecuador has the highest public investment in the region, with 15 percent of its gross domestic product. This investment has had favorable results, as the poverty rate has dropped from 38 percent to 26 percent and extreme poverty from 17 percent to 8 percent since 2006.
Along with reducing poverty and inequality, Ecuador was recognized by the U.N. as being a model for sustainable development. Under Good Living, the country has invested over $9 billion in renewable energy sources. It is estimated that 92 percent of all energy used for internal consumption will be renewable by 2016, as the country works on a type of development for the well-being of all citizens.
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