Impoverish (verb)

1. Make (someone) poor.
2. Make (a country or area) poor.
3. Reduce the quality or value of something.

Origin:

Late middle english (in the sense "make poor"): from old french empovrir, from en- (expressing a change of state) + povre "poor".

Examples:

1. The war impoverished the country.
2. The new taxes will further impoverish the already struggling middle class.
3. The government policies have impoverished the rural areas.
4. His gambling habit had impoverished him.
5. The neglect of the infrastructure has impoverished the city.