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Poverty

We need to step up our efforts to end poverty in all of its dimensions

Jim Yong Kim's picture
Also available in: Français | العربية | Español
© Dominic Chavez/World Bank
© Dominic Chavez/World Bank

Each year on October. 17, we mark End Poverty Day at the World Bank Group to celebrate the progress we’ve made toward our twin goals: to end extreme poverty by 2030; and to boost shared prosperity among the poorest 40 percent around the world. But more importantly, we use this day to take stock of how much further we have to go.

Today, we released the latest Poverty and Shared Prosperity Report, which shows that we have never been closer to realizing those goals. The percentage of the global population living in extreme poverty has dropped from 36 percent in 1990 to 10 percent in 2015, the lowest it has ever been in recorded history. During that time, more than 1 billion people lifted themselves out of poverty. About half of the world’s countries have reduced extreme poverty below 3 percent – the target we set for the world to reach by 2030. 

Accelerating progress towards human capital and financial inclusion

Jim Yong Kim's picture
Also available in: العربية | Français | Español | 中文
© World Bank
© World Bank

Last week, more than 11,000 delegates from the World Bank Group’s member countries –public and private sector attendees--gathered at our Annual Meetings in Indonesia this month to discuss how we can accelerate progress toward our twin goals: to end extreme poverty by 2030 and boost shared prosperity among the poorest 40 percent around the world.  

Disruptive technologies create opportunities for development but they also put those goals at risk. Our discussion this past week focused on the changing the nature of work – the topic of our World Development Report this year. While technology and automation are doing away with some jobs, innovation is also creating new occupations, and launching career fields that didn’t exist a few years ago. Those who are prepared for this future will have many opportunities to achieve their aspirations. Those who are not will be left behind. 

Planet of the Apps: Making small farms competitive

Julian Lampietti's picture
Also available in: Français
 
Photo: Shutterstock

Apps have revolutionized everything from getting to work, keeping in touch with faraway friends, and dating (though the jury’s still out on this one). Can apps be the salvation of the world’s farms that are under two hectares in size – a group that most people think is going the same way as humans in Planet of the Apes?

Economies of scale in agriculture (or any other sector) occur when the average cost per unit of production decreases as farm size increases and conventional wisdom suggests that farms need to get bigger to be competitive. And this is exactly what is happening in richer countries, though the trend is less clear in poorer countries.

Giving people control over their data can transform development

Nandan Nilekani's picture
Suguna, one of the many women who has benefited from Aadhaar– her digital identity. © Bernat Parera
Suguna, one of the many women who has benefited from Aadhaar– her digital identity. © Bernat Parera

In Para village of Rajasthan, India, Shanti Devi’s livelihood depends on wages earned through MNREGA (India’s rural employment guarantee program) and a pension for her and her disabled husband. Eight years ago, a postman would deliver this cash to any household member he found. Sometimes she did not receive the full amount because a relative would claim her money. Even when she did, women like Shanti Devi did not have a secure way to save it because she was unbanked. Opening a bank account needed an individual identification card which many women lacked.

Today, Shanti Devi’s life has changed because of Aadhaar – her digital identity. All of her cash benefits are transferred directly into her bank account, which she was able to open with her Aadhaar number and her fingerprint. She can make and receive digital payments, with any person or business, even without a smartphone. With her ID, she is now fully empowered to exercise her rights, access services and economic opportunities. Most of all, she is afforded the dignity to assert her identity.  

Everything you need to know to follow the 2018 Annual Meetings

Bassam Sebti's picture
Also available in: Français | Español | العربية | 中文


The IMF/World Bank Group Annual Meetings is an event you won't want to miss. Join us for a week of seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world's financial system. This year's events will take place in Nusa Dua, Bali, Indonesia, October 8-14, 2018.
 
Find out why the World Bank, countries, and partners are coming together to try to close the massive human capital gap in the world today. Catch the launch of the new Human Capital Index on October 11, 2018, and spread the message that it’s critical to #InvestinPeople.
 
The World Bank Group, the International Monetary Fund, and the Government of Indonesia are also co-sponsoring a first-ever technology fair to bring innovation to the heart of the Annual Meetings.
 
This three-day “showcase” will feature 28+ innovators – companies from around the world – who will demonstrate the powerful role that technology can play in spurring development, strengthening financial development and inclusion, and improving health and education outcomes. The 2018 Innovation Showcase will run from October 11-13 in the Bali International Convention Center.
 
So, start planning your #WBGMeetings experience. Connect, engage and watch to take full advantage of everything the Meetings has to offer. We've got you covered on Facebook, Twitter and Instagram!

The UN and the World Bank working together in crisis-affected situations

Franck Bousquet's picture
Also available in: العربية
Girls School in Sanaa. © UNICEF Yemen
Girls School in Sanaa. © UNICEF Yemen


Creating sustainable peace and development solutions for countries affected by conflict, crisis and violence is a global responsibility for the international community.
 
At the United Nations General Assembly this week, the UN and the World Bank, together with the International Committee of the Red Cross (ICRC) launched the Famine Action Mechanism (FAM), the first global partnership dedicated to preventing famine. With support from the world’s leading tech companies, the FAM aims to use data and state-of-the-art technology to pair decision-makers with better, earlier famine warnings and pre-arranged financing. Our work on the FAM is the latest example of how our organizations are joining forces to reduce the risk of global crises.

Why strengthening land rights strengthens development

Mahmoud Mohieldin's picture
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Aerial view of the landscape around Halimun Salak National Park, West Java, Indonesia.
© Kate Evans/CIFOR

This blog post was originally published on Project Syndicate.

Today, only 30% of the world’s population has legally registered rights to their land and home, with the poor and politically marginalized especially likely to suffer from insecure land tenure. Unless this changes, the 2015 United Nations Sustainable Development Goals will be impossible to achieve.

For most of the world’s poor and vulnerable people, secure property rights, including land tenure, are a rarely accessible luxury. Unless this changes, the Sustainable Development Goals (SDGs) will be impossible to achieve.

Land tenure determines who can use land, for how long, and under what conditions. Tenure arrangements may be based both on official laws and policies, and on informal customs. If those arrangements are secure, users of land have an incentive not just to implement best practices for their use of it (paying attention to, say, environmental impacts), but also to invest more.

5 inspirational youth you should follow this #YouthDay 

Bassam Sebti's picture
Also available in: Français | العربية | Español | 中文
Refugees take wood working courses at the Kalobeyei Youth Training Center in Kalobeyei, Kenya.
© Dominic Chavez/International Finance Corporation

Youth are the engine of change. Empowering them and providing them with the right opportunities can create an endless array of possibilities. But what happens when young people under 25—who make up 42% of the world’s population – lack safe spaces in which they can thrive?
 
According to the United Nations, one in 10 children in the world live in conflict zones and 24 million of them are out of school. Political instability, labor market challenges, and limited space for political and civic participation have led to increasing isolation of youth. 
 
That's why the United Nations theme for International Youth Day this year focuses on “Safe Spaces for Youth.” These are spaces where young people can safely engage in governance issues, participate in sports and other leisure activities, interact virtually with anyone in the world, and find a haven, especially for the most vulnerable.

Disrupting poverty and stunting: An alternative development model in rural India

Alok K. Singh's picture
© World Bank

Sustained long-term development interventions combined with disruptive technologies can make a real difference in solving entrenched multi-faceted poverty challenges. For over twenty years, I have been solving technology challenges within the World Bank Group. During this time, I have also seen the World Bank Group solve development challenges across the world. In my spare time, I have used all this knowledge to solve problems in my village. I have recently been asked to share my experiences in this blog and seven-minute presentation

IDA 18: Off to a strong start, as demand continues to grow

Axel van Trotsenburg's picture
Also available in: Español | Français | العربية


We are now a year into implementation of IDA18, the three-year funding cycle for IDA, the arm of the World Bank Group that provides financing to the poorest countries. And IDA is off to a strong start. Total commitments reached $24.0 billion this year, more than double the average of the first year in IDA15 and IDA14. This is also over 40% higher than the average volume we saw for the first year of IDA16 and IDA17.

Part of the growth springs from how we set up IDA18, in response to calls from the G20 and international community for the World Bank Group to innovate in every way we can to help achieve the world’s Sustainable Development Goals for 2030.  And despite extraordinary global challenges, our donors agreed to provide $27 billion in grant contributions to support IDA18’s $75 billion financing to client countries. 

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