SEOUL, KOREA, December 6, 2024 — The World Bank Group today unveiled a groundbreaking $100 billion replenishment for the International Development Association (IDA), marking a transformative milestone in global development efforts. Alongside this unprecedented funding, the World Bank is introducing a more streamlined, agile IDA framework, cutting policy commitments and metrics by half, offering clients greater flexibility in shaping their development priorities.
This announcement concludes a year-long replenishment effort, underscoring the collective commitment to tackling poverty and fostering resilience in low-income countries. World Bank President Ajay Banga celebrated the milestone in an open letter to donors, clients, stakeholders, and partners, highlighting the potential of this enhanced funding to drive sustainable, transformative outcomes.
The $23.7 billion pledged for IDA21, once leveraged, results in $100 billion of available financing for countries most in need. The response from donors has been robust, with 17 donors increasing their contributions by over 25% in national currencies, and 10 donors increasing their commitments by over 40%. The World Bank’s new approach also reduces bureaucratic hurdles, slashing the number of policy requirements and metrics from 1,100 to 500, making the process more efficient.
Fifty-nine countries have made financial commitments to the IDA21 replenishment, demonstrating widespread support for this initiative. The funding will enable the Bank to support 78 countries, fueling investments in critical sectors such as health, education, infrastructure, and climate resilience. This infusion of resources is expected to stabilize economies, create jobs, and provide a foundation for long-term prosperity across the most vulnerable regions of the world.
The International Development Association (IDA), as the World Bank’s main financing instrument for low-income countries, remains the largest source of multilateral development finance for these nations. IDA has been instrumental in fostering economic growth, reducing poverty, and improving living standards in 78 countries. The majority of the financing continues to be allocated to Sub-Saharan Africa, where over two-thirds of IDA financing is directed.
Since its creation in 1960, IDA has provided over $533 billion to 115 countries, reaching 1.9 billion people in low-income countries. With this replenishment, IDA’s work continues to be vital in addressing the world’s most pressing challenges, from poverty to climate change.
Looking ahead, this replenishment marks a new phase in the Bank’s global development strategy. By empowering governments to invest in education, health, infrastructure, and climate resilience, the World Bank Group is not just investing in these sectors, but also in the future of the most vulnerable populations, driving long-term economic growth, and advancing global prosperity. The commitment to strengthening economies, tackling climate change, and creating lasting opportunities for communities continues to guide IDA’s mission.
English 
Swahili 
French 
Portuguese 
Chinese