The funding, announced Thursday, comes from donor countries pledging $23.7 billion to the International Development Association (IDA), the Bank’s concessional lending arm.
This marks a slight increase from the $23.5 billion raised during the previous replenishment round three years ago. By leveraging the contributions on financial markets, the World Bank can multiply the amount by approximately four times, unlocking $100 billion in new spending power—up from $93 billion in 2021.
“This remarkable IDA21 replenishment underscores the confidence and support of donors and clients,” stated the World Bank. President Ajay Banga highlighted that the funds would aid 78 eligible nations by financing health, education, infrastructure, climate resilience, economic stabilization, and job creation.
The announcement followed two days of discussions in Seoul, South Korea, where the IDA’s critical role in concessional climate finance and poverty alleviation was underscored. Over the past decade, two-thirds of IDA funding has supported African nations.
This year’s replenishment saw notable contributions, including a record $4 billion commitment from the United States, alongside increased pledges from Japan, the UK, Germany, France, Norway, and Spain. The replenishment, which occurs every three years, continues to be a cornerstone of the Bank’s mission, enabling transformational support to the world’s poorest regions.
Over the years, 35 countries, including China, Turkey, and South Korea, have transitioned from IDA assistance to donor status, reflecting the fund’s role in fostering economic progress.
