ÐÓ°ÉÂÛ̳

April 10, 2014 -- In 2013, the Board of Governors endorsed two new goals for the ÐÓ°ÉÂÛ̳ Group (WBG). First, the WBG would commit its full energies to bringing an effective end to extreme poverty by 2030. This means reducing to no more than 3 percent the fraction of the world¡¯s population living on less than $1.25 per day. Second, the WBG could focus on ensuring that the benefits of prosperity are shared by shifting from a focus on average economic growth to promoting income growth amongst the bottom 40 percent of people. Critically, the goals need to be achieved in a sustainable manner, thus helping secure the long-term future of the planet and its resources, ensuring social inclusion, and limiting the economic burdens of future generations.

The new ÐÓ°ÉÂÛ̳ paper, Prosperity for All: Ending Extreme Poverty, begins by looking at progress to date in reducing global poverty and discusses some of the challenges of reaching the interim target of reducing global poverty to 9 percent by 2020, which was set by the WBG President at the 2014 Annual Meetings. It also reports on the goal of promoting shared prosperity, with a particular focus on describing various characteristics of the bottom 40 percent. A more detailed report with policy recommendations in the areas of ending extreme poverty and boosting shared prosperity is due for release at the Annual Meetings later this year.