World Bank: Poverty Eradicated by 2030
Washington, DC. At its Spring meeting, The World Bank wants to set the specific objective of wiping out poverty in the world by the year 2030. Switzerland’s Wirtschaft.com reports.
In addition to wiping out poverty from the face of the planet, the World Bank wants to foster “shared prosperity” in the future, and focus on the poorest 40 percent of the in the world. World Bank President Jim Yong Kim is seeking to reform the World Bank with concrete targets while at the same time motivating employees to reach specific objectives. The new target date of 2030 creates a sense of urgency, Kim told the Thursday edition of the “Frankfurter Allgemeine Zeitung.”
Kim also stressed that, for the first time, the World Bank group organizations now has a common goal. He hopes the move will push all the subsidiaries of the World Bank Group to work in concert towards that common objective. In an interview with the Frankfurter Allgemeine Zeitung, The World Bank president stressed that the new objectives also included environmental and climate policy. “When we talk about shared prosperity, we also mean shared wealth with future generations,” said Kim.
The Korean-American has taken the lead of the World Bank last summer. For the time being, Mr. Kim does not wish for a capital increase by the World Bank. “None of our donors, or very few of them, are willing to talk about a capital increase. Given the economic difficulties we have to be humble,” Kim said.
In reply to some complaints by World Bank staff that the new president was all talk and no action, Kim said: “Wait and see. Once we begin to align the finances with our goals, you will start hearing a very different story. That’s when people will get loud because they want to keep their budgets intact. They will say he’s crazy and is doing too much. “