In 2013, the World Bank Group adopted two new goals to guide its work: ending extreme poverty and boosting shared prosperity. More specifically, the goals are to reduce extreme poverty in the world to less than 3 percent by 2030, and to foster income growth of the bottom 40 percent of the...

The need for safety nets in Sub-Saharan Africa is vast. In addition to being the world’s poorest region, Sub-Saharan Africa is also one of the most unequal. In this context, redistribution must be seen as a legitimate way to fight poverty and ensure shared prosperity - and all the more so in...

Over the last decade Latin America and the Caribbean region has achieved important progress towards the World Bank Group's goals of eradicating extreme poverty and boosting income growth of the bottom 40 percent, propelled by remarkable economic growth and falling income inequality. Despite this...

For two decades, Africa’s strong economic growth has paved the way for poverty reduction. Nevertheless, high chronic poverty levels persist, and the gap between income groups in terms of human capital and access to basic services is growing. Also, poor households are vulnerable to frequent...

In 2013, the Board of Governors endorsed two new goals for the World Bank 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...