The World Bank has announced nearly $24 billion in loans and grants for some of the world’s poorest nations, which it can leverage to generate a record $100 billion in total spending power.
In a statement released on Thursday, World Bank Group President Ajay Banga announced that donor countries have pledged $23.7 billion to replenish the International Development Association (IDA), the bank’s concessional lending arm.
This year’s contribution represents a modest increase from the approximately $23.5 billion committed during the fundraising round three years ago.
Over the past year, we have navigated an incredibly challenging global landscape—one marked by economic uncertainty, rising debt levels, climate shocks, and an ever-pressing need for human development. Yet, amid these challenges, something remarkable has unfolded: a collective effort, driven by the shared belief that we can do better, that we must do better, for the world’s most vulnerable.
Today, we are proud to announce the results of that effort. After months of negotiation, partnership, and unwavering commitment from our donor community, the 21st replenishment of the International Development Association (IDA) has raised $24 billion in donor contributions.
Thanks to IDA’s unique leveraging model, this $24 billion will generate a total of $100 billion in affordable financing—the largest replenishment in IDA’s history. This is made possible because of donor generosity and the work we have done to better optimize our balance sheet, take on more risk, and increase our leverage capacity,” the statement said partly.
