The pace of change in the overallperformance of the developing world has not altered markedlyover the past 20 years. The number of people living inextreme poverty declined from 1.5 billion in 1980 (40percent of population), to 1.2 billion in 1990 (28 percentof population), to 1.1 billion in 2001 (21 percent ofpopulation). Growth per capita has followed much the sameprofile. In the 1980s, only about two-thirds of developingcountries showed positive per capita income growth, and thispercentage remains unchanged. Life expectancy and literacyindicators show overall improvements, but some regions showworrisome trends. There has been slow and steady progress inoverall development outcomes during the period, but thespeed and scale of change remain static. These averages, ofcourse, mask huge differences across regions, with veryworrisome increases in poverty and continued low growth inSub-Saharan Africa. The Bank has transformed itselfsignificantly in the past 10 years, and should be ready forfurther adjustments to current climate of rapid change.Greater selectivity, more flexibility, and improvedefficiency within its chosen areas of intervention areneeded going forward if a global institution such as theBank is to remain useful and relevant and show concreteresults in a fast-changing world.