World Bank Secures $24 Billion to Support Poorest Nations in Historic Replenishment Effort

IDA Funding Boosts Global Development, with Focus on Health, Education, and Climate Resilience

The World Bank has raised a historic $23.7 billion to replenish its concessional lending arm, the International Development Association (IDA), marking a significant milestone in its mission to support the world’s poorest nations. This funding, secured through pledges from donor countries, will be used to unlock a total of $100 billion in spending power — a substantial increase over the $93 billion raised during the last replenishment cycle in 2021. By borrowing on financial markets, the World Bank will be able to amplify this amount approximately fourfold, creating a large pool of resources for loans and grants aimed at the most vulnerable countries.

The IDA’s role as a major source of concessional financing for the poorest countries, particularly for initiatives related to climate change and sustainable development, has been pivotal in the fight against poverty. The funds raised will be directed to 78 nations, supporting investments in health, education, infrastructure, and climate resilience, with the goal of stabilizing economies and creating jobs. World Bank President Ajay Banga described the success of the IDA21 replenishment as a historic achievement and emphasized its importance in stabilizing the world’s most fragile economies.

Key contributors to this funding effort include the United States, which pledged a record $4 billion, as well as other major donors such as Japan, the United Kingdom, Germany, and France. Notably, 35 former IDA recipients, including China, Turkey, and South Korea, have now graduated to higher-income status and are contributing to the fund, underscoring the global shift toward shared responsibility in development finance.

In addition to the IDA’s significant role in climate financing, the fund has become the largest single source of concessional climate finance globally, providing crucial support for developing nations as they address both long-term and immediate climate challenges. This funding not only boosts economic development but also strengthens the ability of vulnerable nations to build sustainable, resilient futures.

With this replenishment, the World Bank continues its crucial role in tackling poverty and advancing sustainable development across the globe.