The World Bank, the
apex financial institution across the globe has expressed its determination to end extreme poverty by the year 2030.
The group president, Jim Kim, who made this known in a statement to mark the World Bank/IMF annual meeting in Washington, said that the World Bank survey showed that the income inequality among people had decreased and inequality within nations had fallen in many countries, both in rich and poor nations.
“Today, reports had identified strategies to address equality that even the poorest nations can adopt whether through cash transfer, connecting farmers to markets or rural electrification.
“The lesson is that inequality is not an unsolvable mystery, pro-equality policies are not luxury goods and can work in any country.
“Ending extreme poverty and boosting shared prosperity is our bottom line. We will achieve these goals in three ways:
“Firstly, accelerating inclusive and sustainable economic growth, investing in human capital and by fostering resilience to global shocks and threats,” he stated.
Kim said that to end poverty, massive infrastructure and no matter how much money the bank and other international organisations were investing, would never be enough to bridge that gap.
He said that in recent years, that the demand for infrastructure investment had far outstripped available resources and that about 1.2 billion people in the world do not have electricity according to World Bank Survey.
According to him, about 660 million people lack access to safe drinking water, and about one billion people in low income countries lack access to an all-weather road.