Extreme poverty reduced from 2b to under 1b in 25yrs – WB President

The number of people living in extreme poverty has been cut by more than half in less than three decades, President of the World Bank Group Jim Yong Kim has said. He gave a speech on ‘Ending Extreme Poverty by 2030: The Final Push’ at the Center for Strategic and International Studies, Washington, D.C., United States. Despite the massive global migration to urban areas, 70 percent of the world’s extreme poor still live in rural villages, he added. They are mostly farmers or work in informal jobs – providing services to rural populations. The WB's experience in China shows that, in poorer economies, growth in agriculture is four times more powerful in lifting people out of poverty than growth in manufacturing and services.