Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

World Bank President Pledges to Reduce Poverty by Half by 2020

World Bank President Jim Yong Kim said today that the organization intends to help cut extreme poverty in half within seven years.

Meeting the new interim target will be needed to reduce global poverty to 3 percent by 2030, Kim said at a conference in Washington. That’s one of the bank’s dual goals, along with boosting incomes of the poorest 40 percent.

“We don’t think that there’s any way that we can get 3 percent, unless we’re at least at 9 percent by 2020,” Kim said.

The Washington-based lender defines extreme poverty as those who live on less than $1.25 a day and says more than 1 billion people currently do.

The global poverty rate is now about 18 percent, according to Kim. He said that developing countries will have to perform at their highest growth rates in recent years, not their averages, to ease poverty in line with the World Bank’s targets.

Kim, responding to a question about the political impasse over fiscal issues in the U.S., said it’s already poised to lower demand for U.S. exports. He also said the World Bank would provide direct support to member nations if the U.S. defaults and threatens their stability.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.