The World Bank came up with these strategies on the backdrop of serious and heightened criticism as well as demonstrations that were raging all over the world, indicating the dissatisfaction and increasing discontentment with kind of politics that had been adopted by the institution. The goals set to halve the extreme poverty level by the year 2015 was thus just a gimmick and scapegoat meant to cool down this criticism and legitimize the relevance of the World Bank as an institution in the world (Booth, Hanmer & Lovell, 2000).
Many have rightfully held the view that the World Bank is not as such inclined towards achieving this goal because it was not sincere in its formulation. It was nothing further than a strategy aimed at proclaiming the relevance of the institution in the economic affairs of the world. Evidence of this statement is shown by the level of extreme poverty that exists today. The World Bank has not achieved any useful and significant gains in this action plan (Banks & Hulme, 2012). Today, one in every nine people in the world goes to bed hungry every night.
The majority of the people suffering from famine reside in the developing countries. The developing countries have thirteen percent of their total population highly undernourished. Moreover, one among every six children in the developing countries has underweight because of the malnutrition, which leads to the large infant mortality rate in these third world nations. Such negative statistics point to the failure of the World Bank in achieving its goal of extreme poverty reduction (Ashford, 2007). A characteristic of the World Bank poverty reduction plan that is noteworthy is that it emphasized more on the failure of Sub-Saharan Africa than other regions of the world.
It would become a mistake and major weak point of the entire action plan because setting targets in this way makes some regions appear to be better than others do, which is not the real case. Such a strategy is bound to fail because then some regions that have people living in the extreme poverty may be overlooked just because they are classified under the regions that have the means of caring for its community members (Brinkerhoff & Goldsmith, 2003).
The World Bank should have made equitable efforts in all the regions to ensure the journey towards eradication of the extreme poverty is one that ends in a successful and happy manner.
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