For the first time ever the percentage of people living in extreme poverty may likely fall to 9.6% in 2015, World Bank Group (WBG) Chairman Jim Yong Kim reaffirmed on Friday.
According to the WBG, extreme poverty comprises people living with less than US$1.90 a day.
"This is the best news in the world today, but in order to reach our goal to end extreme poverty by 2030 our aspirations must be higher and many tough decisions will have to be made [...]," the WBG official expressed.
"We can and we must be the generation that ends extreme poverty," Jim added.
Thus, "I stand before you today, not as a member of a small group of committed activists, but as president of an organization of more than 15,000 people, who are passionate about fighting poverty," he underlined.
The WBG officer believed countries should invest in women; it can be the "most effective pro-growth strategy by any government." As an example, he mentioned the case of Bangladesh, which is encouraging female inhabitants' participation in the workforce.
"If they stay on track, their female workforce will grow from 34 to 82% over the next decade; adding 1.8% to their GDP," he estimated.
According to Jim, closing the gender gap can raise incomes by 27%in the Middle East and North Africa; 19% in South Asia and 14% in Latin American and the Caribbean.
"Research confirms something we all know; when women earn more money, they invest in their families' education and health," he stated.
Remarks were made during the Annual Meetings of the Boards of Governors of the WBG and the IMF's plenary session in Lima.
(END) MVB