The World Bank and partner governments have announced a $100 billion commitment to replenish the International Development Association (IDA), the world’s largest provider of development financing for low-income countries. This historic funding milestone, known as IDA21, will support initiatives in 78 countries, focusing on building climate resilience, creating jobs, and improving access to education and healthcare.
The replenishment, achieved with contributions from donor governments, underscores global solidarity in addressing challenges faced by vulnerable nations. World Bank officials emphasized that the funds will build on past progress and help drive sustainable development in some of the world’s poorest regions.
“This $100 billion commitment marks a major step forward in improving lives and creating opportunities in low-income countries,” the organization stated.