By Aamna Mohdin for Quartz.

The World Bank just announced a major global milestone: The number of people living in extreme poverty will likely fall to below 10% in 2015.

“This is the best story in the world today,’’ Jim Yong Kim, World Bank Group president, said in a statement. “These projections show us that we are the first generation in human history that can end extreme poverty.”

When fighting poverty, optimism is a moral choice. Our pessimism can become a self-fulfilling prophesy that’s deadly for the poor. #bottom40

— Jim Yong Kim (@JimKim_WBG) 1 de outubro de 2015

The latest projections suggest that the extreme poverty rate could fall to single digits—from 12.8% in 2012 to 9.6%—for the first time. The projections focus on extreme poverty, where people lack the most basic necessities, and not relative poverty, where someone’s income is below the general standard of living.

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Image: A portrait of a girl in Rahim Yar Khan, in Pakistan’s Punjab Province, holding high-energy biscuits distributed by the UN World Food Programme (WFP). UN Photo/WFP/Amjad Jamal.