World Bank adopts three goals to end extreme poverty

World Bank President Jim Yong Kim has cited on Monday three ways to end extreme poverty and boost shared prosperity. The first is to accelerate inclusive and sustainable economic growth. The second is to invest in human capital. The third is to foster resilience to global shocks and threats, Kim added.

“We’ll help countries build resilience against severe shocks that threaten to roll back decades of progress against poverty.” World Bank President said.

“Countries must make more effective investments in people. It will determine the very future of nations.”

“We have to reach a new level of seriousness — when we do, aspirations for the poor will meet aspirations of the poor.”

Kim also said the extreme poverty rates are falling rapidly worldwide as many countries had made progress in boosting incomes of citizens.

Nearly 1.1 billion people have escaped extreme poverty since 1990. From 2012 and 2013, around 100 million people were lifted out of extreme poverty, which is equivalent about 250,000 people every day or 200 people every minute.

Ahead of the World Bank and International Monetary Fund Annual Meetings, Kim has set out his vision for ending extreme poverty by 2030 and boosting shared prosperity.

This year’s meetings will take place in Washington, DC, October 7-9, 2016.