World Bank and Islamic Development Bank's policy toward alleviation of poverty with a special reference to the case of Turkey after 2002

Poverty is one of the most important socio – economic problems in today's world. Around the world, in rich or poor nations, poverty has always been present. Even though relief of poverty was not international economic institutions' one of the high priorities in the early years of those institutions, it has been deemed as one of the high priorities due to strong criticisms made on policies. In this study, policies, approaches, strategies, efficiency and changing role of World Bank and Islamic Development Bank's in global poverty reduction have been investigated and evaluated after 2002 term in Turkey. While doing this various definition of poverty and its measurement methods is studied. Then reports are scanned and then the size of poverty in the world is searched with income and non-income indicators. In order to reach a permanent solution of reducing poverty, international cooperation with an effective policies for poverty reduction is needed. Islamic Development Bank and World Bank are the most significant institutions as capable of providing this cooperation and coordination among the international economic institutions. On the other hand, the World Bank's leading efforts alone in global poverty reduction are insufficient. Development Banks, like Islamic Development Bank, which is directly related to poverty on the issue, should work on this problem in coordination with World Bank. In addition, national governments should place the relief of poverty on the top of their agenda and design comprehensive policies in poverty reduction and apply them in a determined way.