CEOAFRICA gathered that the President of World Bank, Jim Yong Kim have announced a set of key changes to align staff, finance and priorities of the institution to meet the goals of ending extreme poverty by 2030 and boosting shared prosperity for the bottom 40 percent of population in developing countries.

While addressing representatives of 188 member countries at the plenary session of the world bank/international monetary fund annual meeting, President Kim noted that the institution had not followed its own advice for too long and had avoided tough choice.

According to him, “That’s changing, we are taking our own medicine, we will show much more financial discipline than we have in the past, in order to become more efficient and identify new ways to reduce spending.

“If we have high aspirations for the poor, if our work is to be aligned with our goals, we must be as efficient and focused as possible’’ he added.

Kim also said that to reach 3 percent of population living in poverty by 2030, 9 percent must be reached by 2020. He also announced a new initiative to provide universal financial access to all working-age adults by 2020.