World Bank announces record $100b IDA replenishment

The World Bank Group has announced a historic $100 billion replenishment of the International Development Association (IDA), marking a milestone in global development financing.

The record-breaking package includes $23.7 billion in pledged donor contributions, leveraged into $100 billion to support transformative projects in 78 countries.

The initiative introduces a streamlined IDA21 framework, cutting policy commitments and metrics by 50 per cent to empower client countries with greater flexibility in shaping their development priorities.

Key highlights include 59 countries making financial commitments, with 17 donors increasing their contributions by over 25 per cent and 10 donors boosting pledges by at least 40 per cent.

Funding will support critical investments in health, education, infrastructure, and climate resilience while fostering economic stability and job creation.

World Bank President Ajay Banga emphasised the importance of leveraging these resources to drive long-term prosperity and reduce poverty, calling the replenishment a testament to global solidarity in addressing challenges facing low-income nations.

Attribution: World Bank

Subediting: M. S. Salama