Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
This funding aims to help low-income countries address increasing development challenges, including pandemic recovery COVID-19and adapt to change Air conditioningAnd promoting inclusive economic growth.
This financial package is the largest in history International Development Association Since its establishment 61 years ago.
The announcement comes after a year-long effort to replenish the organization’s resources, as praised by the group’s president The World Bank, Ajay Bangadedicated to donors and partners in an open letter, emphasizing that these funds will be used to achieve tangible development results.
In addition to standard financing, the World Bank directs and streamlines IDA activities, programs and procedures, cutting in half the number of measures and policy commitments.
This approach gives client countries greater freedom to define and formulate their development priorities, thereby increasing the effectiveness of implemented programs and projects.
The move comes at a critical time, as the poorest countries face multiple challenges, including health and economic crises, climate change and conflict.
It is expected that these resources will contribute to strengthening national capabilities to address these challenges and achieve sustainable and comprehensive development.
It should be noted that the International Development Association is one of the largest sources of financing for the fight against extreme poverty in the poorest countries, because since 1960 it has provided about 458 billion dollars to finance investment operations in 114 countries.
This renewal demonstrates the continued commitment of the international community to support development and improve the living conditions of those most in need.
