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World 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.

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Daily Sabah

World Bank project approvals reflect confidence in Türkiye's policies

An increase in project approvals by the World Bank for Türkiye indicates that confidence in the country's economic policies has strengthened, according to a statement of a sen...

3 months ago·Türkiye

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Global Citizen

$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…

3 months ago

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NRC Handelsblad

World Bank: $7 billion extra for poor countries

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…

3 months ago·Netherlands

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Inquirer

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,

3 months ago·Manila, Philippines

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The Rio Times

World Bank Announces $100 Billion Aid Package for Developing Nations

The World Bank has unveiled a $100 billion aid package aimed at supporting the world’s poorest countries. This fund, managed by the International Development Association (IDA), is based on $24 billion in donor pledges. IDA’s unique structure allows it to leverage every dollar of donor contribution by 3.5 times, significantly amplifying the impact of the […]

World bank to grant world's poorest nations $24bn

The World Bank announced it has raised about $24 billion to provide loans and grants for some of the world’s poorest nations that it can leverage to generate a record $100 billion in total spending power. Known as the International Development Association (IDA), donor countries committed $23.7 billion to replenish the bank’s concessional lending arm, a World Bank spokesperson told AFP, marking a slight increase from the roughly $23.5 billion ple…

3 months ago·Nigeria

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