The KCP serves as an effective, transparent and efficient vehicle for the pooling of intellectual and financial resources for data collection and research supporting poverty reduction and sustainable development. It encourages and facilitates the Bank's dialogue with partner agencies, developing country clients, and other interested parties. A subsidiary objective is to assist data collection and research capacity in the Bank's client countries. The objective of the KCP is to move quickly into areas and development issues where the creation of new knowledge is likely to assist the formulation of better policies with a greater impact on poverty.
The four trust funds established under the KCP support activities related to overarching themes of (i) poverty dynamics and delivery of public services; (ii) investment climate and trade and integration; (iii) global public goods and (iv) economic development and structural change. The first addresses issues at the heart of poverty reduction, empowerment and sustainable development; the second focuses on the major elements of a business climate conducive to growth, with emphasis on the role of small- and medium-scale industries; the third focuses on global issues that require collective action and coordination across countries because lack of action or progress in some countries could undermine benefits for all; and the fourth will analyze the policies and factors that are necessary to make it possible for a developing country to upgrade its industrial structure continuously and develop rapidly.
The World Bank is responsible for administering the KCP. KCP donors are represented in the Consultative Group, which meets yearly to discuss the strategic direction of the program, as well as its progress and accomplishments.