The World Bank Group Goals : End Extreme Poverty and Promote Shared Prosperity

Abstract

Although poverty has declined rapidly over the past three decades, humanity still faces urgent and complex challenges. The World Bank Group has established ambitious but achievable goals to anchor its overarching mission and to galvanize international and national efforts in this endeavor. Accordingly, the institution will strive to: (i) end extreme poverty at the global level within a generation, and (ii) promote what may be called shared prosperity: a sustainable increase in the well-being of the poorer segments of society. This second goal reflects the fact that all countries aspire to rapid and sustained increases in living standards for all of the citizens, not just the already privileged. The goals set will anchor the institution going forward and will sharpen resolve to support countries effectively to reach these goals. This needs a better understanding of what policies and interventions work best to promote objectives consistent with these goals, when (in terms of the enabling environment) they work best, and how to translate the knowledge gained from evidence and practice to meaningful engagement with country governments.