Over the past two decades, rapid economic growth has lifted millions of people out of poverty and there has been considerable progress by countries on a number of the Millennium Development Goals (MDGs). Global poverty has been halved five years ahead of the 2015 timeframe, 90 per cent of children in developing regions now enjoy primary education, there have been significant improvements in all health indicators, and the target of halving the proportion of people who lack access to improved sources of water has been met. Yet, despite these remarkable gains, 1.2 billion people still live below the poverty line, and much more needs to be done to eradicate poverty.