World Bank plans to halve extreme poverty by 2020

Reuters News
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Posted: Oct 09, 2013 9:51 AM
World Bank plans to halve extreme poverty by 2020

WASHINGTON (Reuters) - World Bank President Jim Yong Kim on Wednesday said the global development lender will seek to halve extreme poverty by 2020, an interim goal as the bank seeks to fulfill its poverty-fighting targets.

Kim in April called on the international community to reduce the number of people living on $1.25 a day to 3 percent by 2030, and also raise the incomes of the poorest 40 percent of the people in every developing country.

Right now, 18 percent of the world's people are in extreme poverty, and Kim said in a CNN interview this must fall to 9 percent in the next seven years in order to fulfill the more ambitious goal by 2030.

(Reporting by Anna Yukhananov; Editing by James Dalgleish)