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Since the 1970s, the World Bank has had a new goal: poverty eradication. This essay evaluates the Bank according to this objective. Persisting poverty judges the organization's work negatively. The Bank's many policies were often even contradictory over time, bringing strong criticisms, which its current policies reflect. These are the lessons of former failures in the Banks poverty reductions policies: The Bank's strategies now concentrate on both the market & the state to promote "development." The causes of underdevelopment lie not only in bad governance, but also in states' unfavorable economic positions. It is important to cooperate with the poor while trying to reduce poverty. "Development" is not only an issue of domestic economic reforms: political & social reforms are also important. The World Bank's newest Poverty Reduction Strategy Papers (PRSPs) reflect these changes. They should achieve the ambitious Millennium goals, but time will be their judge. Adapted from the source document.