By Bunmi Yekini
The International Development Association (IDA), a key arm of the World Bank Group, has secured $24 billion in donor contributions, translating into $100 billion in affordable financing. This marks the largest replenishment in IDA’s 60-year history, aimed at supporting 78 of the world’s poorest nations.
Transformative Financing for Development
Ajay Banga, President of the World Bank Group, celebrated the milestone, stating:
“This replenishment is not just about funds—it’s about lives changed. The $100 billion will be directed towards critical areas such as health, education, infrastructure, and climate resilience, stabilizing economies and creating opportunities for the world’s most vulnerable.”
IDA’s leveraging model multiplies every donor dollar by 3.5 to 4 times, enabling unprecedented investments. Over the past decade, IDA has mobilized $270 billion, with $179 billion focused on Africa, and has emerged as the largest provider of concessional climate financing globally.
Streamlined Operations for Greater Impact
Recognizing operational inefficiencies, IDA reduced its metrics from 1,100 to 500 to accelerate implementation.
“We are making IDA simpler and faster, cutting bureaucratic hurdles to ensure impactful delivery on the ground,” said Banga.
Delivering Results
IDA’s contributions have transformed lives globally:
900 million people accessed health services.
117 million people connected to reliable electricity.
94 million gained access to clean water.
Over 18 million farmers received essential technology.
A Jobs Agenda for Youth
The replenishment comes as the world faces an impending jobs crisis, with 1.2 billion young people entering the workforce but only 420 million jobs projected. IDA aims to prioritize job creation as a core objective.
“Jobs bring dignity and hope, empowering women and fostering stronger communities. IDA is more than financing—it’s a catalyst for sustainable growth,” emphasized Banga.
A Collective Achievement
Banga credited the historic accomplishment to the unwavering support of donor nations, advocacy groups, and partner countries:
“Together, we’ve proven that collective action can achieve extraordinary results. But the work is far from over.”