Poverty line World Bank definition —One of the main goals and functions of World Bank to reduce poverty, both national and global, targeting to lower the world’s poverty line.
The World Bank president Jim Yong Kim described extreme poverty as “the defining moral issue of our time” and hopes a new World Bank Group strategy will help to end extreme poverty by 2030, world needs to tackle extreme poverty more urgently.
Jim Yong also announced that the World Bank has set an interim target to reduce global poverty to 9 percent in 2020, which, if achieved, would mark the first time the rate has fallen into the single digits.
In Africa, economic growth in sub-Saharan Africa should significantly outpace the global average over the next three years, according to the World Bank.
According to World Bank poverty overview, East Asia saw the most dramatic reduction when the region’s $1.25-a-day poverty rate fell from 77 percent in 1981 to 12 percent in 2010.
In South Asia, the share of the population living in extreme poverty is now the lowest since 1981, dropping from 61 percent in 1981 to 31 percent in 2010. Sub-Saharan Africa reduced its $1.25-a-day poverty rate to 48 percent in 2010 from 52 percent in 1981.
China alone accounted for most of the decline in extreme poverty over the past three decade. Between 1981 and 2010, the nation had 680 million people moving out of extreme poverty. During the same time, the developing world as a whole saw a reduction in poverty of 723 million.