US EditionWorld Bank wins pledges for US$100 billion replenishment of fund for poorest countries
- Donor countries pledged a record US$100 billion for the World Bank's fund to aid the poorest nations in their struggles against debt and climate disasters.
- The World Bank announced the replenishment at a conference in Seoul, aiming to provide crucial loans and grants to approximately 78 low-income countries.
- World Bank President Ajay Banga stated that the funding will directly support the developing countries most in need of assistance.
51 Articles
51 Articles
The Washington Hispanic
The World Bank announced Thursday that it has raised nearly $24 billion to provide loans and grants to developing countries, which will generate a record $100 billion in total purchasing power. Donor countries committed $23.7 billion to replenish the bank’s loan fund, known as the International Development Association (IDA), a World Bank spokesperson told AFP. The contribution marks a slight increase over the next $23.5 billion committed in the …
$100 Billion for Progress: Inside IDA’s Largest Replenishment Yet
In a powerful demonstration of global solidarity, leaders from around the world gathered in Seoul, South Korea, on Dec. 5-6, 2024, for the International Development Association (IDA) ’s 21st replenishment cycle (IDA21). IDA drives transformative change in the world’s most under-resourced countries through low-interest loans and grants, about 20% of which are grants that do not need to be repaid. This ensures essential support without burdening n…
Loans: The World Bank is allocating 100 billion in loans to the poorest countries over the next three years. The Netherlands is also contributing. On Friday morning, the…
World Bank announces $100B support for world's poorest countries
Washington, United States — The World Bank announced Thursday that it had raised close to $24 billion to provide 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. Donor countries committed $23.7 billion to replenish the bank’s concessional lending arm,
“A historic success.” The Washington-based institution welcomed the fundraising, which raised $23.7 billion, a sum that could be multiplied by four on the markets.
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