Over the past 25 years, with almost no notice or acclaim, more than 1 billion people lifted themselves out of extreme poverty, thanks in large part to governments that promoted economic growth and invested in people.

Today, fewer than 1 billion people remain in such difficult circumstances. We now have the opportunity to be the first human generation in history to end extreme poverty. It will not be easy and will take the coordinated efforts of many organizations, but it's entirely doable.

Still, the world needs more champions to fight poverty. That's why I warmly welcome the China-led Asian Infrastructure Investment Bank (AIIB).We believe the AIIB has great potential to help Asia build power plants, roads, bridges, schools, and clinics that will create jobs and boost economies.