Global Practices Chief Economist
(See also Global Practices.) The Global Practices Chief Economist is the principal economic adviser to the Global Practices Vice Presidents and works closely with the regional Chief Economists and the World Bank's Chief Economist. The Global Practices:
• Set and drive the strategic direction of their practice based on country and regional demands and global priorities
• Promote the flow of knowledge and expertise across the World Bank Group to deliver client solutions
• Coordinate with Regional Vice Presidencies and country management units to join global expertise with local knowledge
• Hold responsibility and are accountable for the technical quality of projects
Global Public Goods
Public goods are defined as those goods that are both nonrival and nonexcludable. Global public goods have a spatial dimension and so include only those issues that are transborder in nature. In its strategy for addressing global public goods, the World Bank identifies five areas of global public goods for its engagement. These goods include the following:
• The environmental commons (including biodiversity and the prevention of climate change)
• Prevention of communicable diseases (including HIV/AIDS, tuberculosis, malaria, and avian influenza)
• International trade
• International financial architecture
• Global knowledge for development
Global Secondment Program
(See Employment Opportunities at the World Bank Group.)
Goals, World Bank Group
The World Bank Group has established ambitious but achievable goals to anchor its overarching mission and to galvanize international and national efforts in this endeavor. Accordingly, the institution will strive to end extreme poverty at the global level within a generation and promote what may be called "shared prosperity": a sustainable increase in the well-being of the poorer segments of society. This second goal reflects the fact that all countries aspire to rapid and sustained increases in living standards for all of their citizens, not just the already privileged.
These two goals and their respective indicators can be summarized as follows:
• End extreme poverty. Ensure that the percentage of people living on less than $1.25 a day is no more than 3 percent globally by 2030.
• Boost shared prosperity. Foster income growth of the bottom 40 percent of the population in every country.
Ending extreme poverty within a generation and promoting shared prosperity must be achieved in such a way as to be sustainable over time and across generations. This requires promoting environmental, social, and fiscal sustainability. The aim must be for sustained social inclusion and for limiting the size of economic debt inherited by future generations.
The goals articulated here are not solely for the World Bank Group to achieve but rather are goals that the Bank Group hopes are consistent with those of its 188 member countries. The goals will guide the World Bank Group's strategy as it continues its transformation into a "Solutions Bank" by influencing what the organization does and how and by helping it become more selective and focused in its activities. The goals are well aligned with the overall objectives of the Millennium Development Goals process and reiterate the Bank Group's unwavering commitment to support it and to help shape the Post-2015 Development Agenda.