World Bank vows to end extreme poverty by 2030

April 21, 2013 12:25

Setting an ambitious agenda, the World Bank has fixed an 'expiration date' for extreme poverty by approving a plan to end the global menace within a generation by 2030.

"We are no longer dreaming of a world free of poverty. We have set an expiration date for extreme poverty. With commitment, cooperation, and the vision of leaders from around the world, we have great faith that we can make it happen," the World Bank President Jim Yong Kim told a news conference in Washington.

Endorsing the World Bank's goal in a communique, its 25-membered Development Committee said that reducing the percentage of people living on less than USD 1.25 a day to three per cent by 2030 will require strong growth across the developing world and translation of growth into poverty reduction to an extent not seen before in many low income countries.

Notably, India accounts for one-third of the global poor.

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