World Bank draft 2030 strategy

A draft document entitled “A Common Vision for the World Bank Group”, which will be discussed by Executive Directors today [March 21], proposes two new goals to guide the bank's development work:

• Promoting "shared prosperity" by monitoring the income growth of the bottom 40 percent in every country, and
• Reducing the percentage of people living in extreme poverty to 3 percent globally by 2030. 

Oxfam spokesperson Didier Jacobs said:

“The World Bank has recognized that inequality is the enemy of shared prosperity, a very welcome move. We applaud Jim Kim's vision for reforming the Bank to ensure it does a better job of fighting poverty and inequality. But the Bank’s shared prosperity agenda should be clearer, more categorical, and go further.  

“We’re looking to Jim Kim to lead the way on a global development agenda by taking bold political steps, and targeted and specific goals on ending extreme poverty and inequality. 

“Fostering income growth of the bottom 40 percent of the population in every country is an activity, not a goal. The World Bank must commit to growing the bottom 40% faster than the average, and reducing disparities between the top and bottom of society.”

* Didier Jacobs is the acting head of Oxfam’s Washington DC office.