World Bank Group Timeline

In a speech at Georgetown University in Washington, DC, World Bank Group President Kim defines the Bank Group's Twin Goals while setting a bold agenda for the international development community. The goals, which will thereafter serve as a guiding principle for the World Bank Group, are to end extreme poverty by 2030 and to promote shared prosperity by boosting the incomes of the poorest 40% of the population in each country. During his speech, President Kim refers to the "historic opportunity" facing the development community and world leaders: "We are at an auspicious moment in history when the successes of past decades and an increasingly favorable economic outlook combine to give developing countries a chance - for the first time ever - to end extreme poverty within a generation." While discussing how the World Bank Group will help attain these goals, President Kim points first to the role of IDA and the importance of its upcoming replenishment. "With IDA’s help, hundreds of millions of people have escaped extreme poverty. Securing a strong IDA replenishment is one of my highest priorities."