It’s been 10 years since the World Bank signed on to the Millennium Development Goals. At the time, I managed the Bank's HIPC initiative, providing debt relief for the most heavily indebted countries, and I remember the hope we all felt. I am now responsible for IDA—the World Bank’s fund for 79 of the poorest countries, for whom the MDGs are critical, and I can say that our commitment to these goals remains as strong today, if not stronger.
We have made considerable progress on many of the goals. Growth over the past decade has contributed to reductions in extreme poverty. In 1990, over 40 percent of the population in developing countries lived on less than $1.25 per day. By 2005, that share fell to roughly 25 percent and is expected to fall to 15 percent by 2015, more than meeting the goal to halve extreme poverty.