The combined impacts of COVID-19, rising conflict, and climate risks are exacerbating extreme poverty, undermining growth, and jeopardizing the prospects of a resilient and inclusive future, particularly for the world’s poorest. Since COVID-19 started to spread, over 160 million people were infected by COVID-19, and the consequent social and economic fallout have been nothing short of devastating. Per capita GDP suffered the sharpest slowdown in a generation, an estimated 100 million extra people are likely to fall into extreme poverty, and the equivalent of 255 million jobs were lost. Due to lags in data collection the total effect has yet to be reflected in published data across the full spectrum of well-being. Yet it is clear that the vast majority of people, in particular the poor and vulnerable, have endured setbacks across many aspects of their lives.