In April 2013, the World Bank set a new goal to end extreme poverty in a generation. Our target is to have no more than 3 percent of the world’s population subsisting on just $1.25 a day by 2030. There are still 1.2 billion people who live in extreme poverty so meeting the target will be a monumental task.
To know whether the Bank and our client countries are on track to end extreme poverty, we must regularly measure progress.
In coming years, the collection and analysis of reliable and comparable poverty data will take on added importance as poverty levels are watched more closely by everyone with a stake in development.
Good news is, we are building on the work we already do or have completed. Poverty measurement and analysis has been a key aspect of the Bank’s mission for years, as is our work to share knowledge and methods for how to measure poverty more accurately and more frequently.
By measuring poverty we learn which poverty reduction strategies work, and which ones do not. Poverty measurement also helps developing countries gauge program effectiveness and guide their development strategy in a rapidly changing economic environment.