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According to World Bank Group, more than one fifth of the population of the developing world lives in extreme poverty, that is, lives with incomes below the threshold of $1.9 a day, constituting about 1.2 billion people. Although these disturbing figures, world has achieved impressive results in poverty reduction during the last 3 decades, even surpassing the expectations of the first Millennium Development Goal of reducing extreme poverty twofold: since 1981 the number of extremely poor people in the developing countries has dropped by more than 720 million people, while it is expected to reduce to 3% of population by 2030, as to World Bank goal. Notwithstanding fast poverty rates reduction across the developing world as a whole, it was far not so fast across Low Income countries. Moreover, absolute number of people living at less than 1.9$ a day has grown considerably through the last 30 years in Low Income Countries. Such situation requires more distinguished approach in the poverty reduction task which is focused on fostering the growth of income of bottom quintile of population and which is known as "shared prosperity" in the World Bank terms.
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