The Latin America and Caribbean (LAC) region has made laudable progress in the past fifteen years in reducing poverty, building the middle class, and promoting prosperity for all levels of society. Extreme poverty, defined in this region as life on less than $2.50 a day, has declined by half,...

The Annual Report is prepared by the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)—collectively known as the World Bank—in accordance with the by-laws of the two institutions. The President of the...

The World Bank Group has developed a new Strategy focusing on the ambitious goals of ending extreme poverty and promoting shared prosperity in a sustainable manner. It is committed to helping countries reach these goals with proven solutions that integrate the WBG's development knowledge and...

Five years ago the Millennium Declaration recorded the commitment of the members of the United Nations to eliminate poverty and to build a secure and peaceful world conducive to human development. The Millennium Development Goals (MDGs) embocdy that commitment and set quantified targets for...