UNICEF Tuesday confirmed that 2.6 million children have sunk below the poverty line in world's most affluent countries since 2008, bringing total number of children in developed world living in poverty to an estimated 76.5 million.
A report by the UN agency indicated that early stimulus programs to respond to recession in some countries were effective in protecting children.
However, by 2010, a majority of countries pivoted sharply from budget stimulus to budget cuts, negatively impacting children, said Jeffrey O'Malley, UNICEF's Head of Global Policy and Strategy.
All countries need strong social safety nets to protect children, UNICEF said, adding that wealthy countries should lead by example, "explicitly committing" to eradicate child poverty, "developing policies" to offset economic downturns and "making child well-being" a top priority.
The UN Children's Fund was created in December 1946 after the World War II when European children faced famine and disease.