• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Editor's pick

World Bank’s Open Letter on IDA21 to Our Shareholders, Clients, Partners, and the Global Development Community

9 months ago
in Editor's pick, Features, highlights, Home, home-news, latest News
35 min read
0 0
0
132
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

World Bank’s Open Letter on IDA21 to Our Shareholders, Clients, Partners, and the Global Development Community

Over the past year, we have navigated an incredibly challenging global landscape—one marked by economic uncertainty, rising debt levels, climate shocks, and an ever-pressing need for human development. Yet, amid these challenges, something remarkable has unfolded: a collective effort, driven by the shared belief that we can do better, that we must do better, for the world’s most vulnerable.

Today, we are proud to announce the results of that effort. After months of negotiation, partnership, and unwavering commitment from our donor community, the 21st replenishment of the International Development Association (IDA) has raised $24 billion in donor contributions.

Thanks to IDA’s unique leveraging model, this $24 billion will generate a total of $100 billion in affordable financing—the largest replenishment in IDA’s history. This is made possible because of donor generosity but also the work we have done to better optimize our balance sheet, take on more risk, and increase our leverage capacity.

This funding will be deployed to support the 78 countries that need it most, providing resources to invest in health, education, infrastructure, and climate resilience; stabilize economies, create jobs, and build the foundation for a better future; and empower nations to navigate an uncertain world and unlock their full potential.

Delivering Results with Greater Speed and Impact

This replenishment is not just about resources—it’s also about how we deliver them. Over the years, IDA’s operational framework has grown increasingly complex, with over 1,100 different requirements and metrics. While well-intentioned, this complexity has often slowed us down and overburdened those we serve.

RelatedPosts

GRA to Tax Cryptocurrency Gains as Authority Prepares Digital Tracking System

 Importers and Exporters Association Decries “Mafiarian” Auctions of Perishable Goods at Ghana’s Ports

Nigeria Leads as Africa’s Wealthiest Economies Lose Over 8,000 Millionaires in 10 Years

During this replenishment cycle, we worked closely with our partners to streamline IDA’s operations, cutting the number of required metrics in half to 500. This will make IDA simpler, faster, and more responsive to the needs of our clients. It means fewer bureaucratic hurdles and more time spent delivering results on the ground.

Why IDA Matters

During its 60 years of existence, 35 countries have graduated from IDA, including many who are now generous donors, giving back so that others may prosper.

Throughout, IDA has stood as a critical partner for the world’s poorest countries. It is a lifeline that delivers what few others can:

Affordable financing through zero- and low-interest loans and grants to nations with limited financing options.

Unmatched development knowledge gained from decades of experience in nearly every corner of the globe.

The power to leverage every donor dollar 3.5 to 4 times, transforming modest contributions into life-changing investments.

This model has enabled IDA to mobilize and deploy $270 billion over the last decade alone, with $179 billion directed to Africa. IDA has become the largest provider of concessional climate financing, investing $85 billion globally in the last 10 years, with over half dedicated to climate adaptation—protecting communities from rising seas, building heat-resistant schools, and ensuring farmers have the right seeds for the right conditions.

In the same period, these investments have delivered tangible results:

  • 900 million people reached with health services.
  • 117 million people connected to reliable electricity.
  • 94 million people gaining access to clean water.
  • Over 18 million farmers supported with essential technology.

This is why IDA is often called the “best deal in development.” It is not just about funds deployed—it is about lives changed.

The Work Begins

Even as we celebrate these accomplishments and today’s achievements, the challenges ahead will demand even more of our attention. In many of the countries IDA serves, governments are constrained by rising debt and limited fiscal space. For these nations, IDA’s concessional financing is often the only viable source of investment in job-creating sectors.

This is particularly crucial as a vast generation of 1.2 billion young people prepares to enter the workforce. With current projections indicating only 420 million jobs will be created, nearly 800 million young people face the risk of unemployment—a threat to societal stability and economic growth.

The World Bank Group recognizes this challenge and is prepared to meet it head-on, which is why we are working to ensure job creation is not a byproduct of our projects but an explicit aim of them.

Throughout history, jobs have been the surest and most lasting solution to poverty. They bring dignity, empower women, give hope to younger generations, and build stronger communities.

In this context, IDA is not just a financial instrument; it is a catalyst for job creation. It provides countries with the resources to build infrastructure, improve education and health systems, and foster private sector growth—all of which are critical for creating jobs and economic opportunities.

This link between the World Bank Group’s public sector experience and our private sector financing and access to deliver across such a continuum with depth and width globally underpins our jobs agenda. This effort is comprehensive, and a paradigm shift for the institution.

A Collective Achievement

None of this – the financing or the efficiency – would have been possible without the unwavering support of our donor countries, advocacy from civil society, and creativity from clients. To each of you—thank you for your trust, your partnership, and your belief in the mission of IDA.

Today marks a milestone, but it is also a beginning of sorts. Together, we have proven that collective action can achieve extraordinary results. But the work is far from over.

Let us continue to work together—to invest in solutions, to empower nations, and to build a world where every person, no matter where they are born, has the opportunity to thrive.

With gratitude,

 

Image

 

Ajay Banga
President
The World Bank Group

Tags: and the Global Development CommunityClientsIDA21partnersWorld BankWorld Bank’s Open Letter on IDA21 to Our Shareholders

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Financial Stocks Gain as Accra Bourse Slips on Prime Index Decline

Ghana in Talks With Nigeria Over Possible Barter Deal to Swap Gas for Electricity

Ghana set to Save $300m in Debt Restructuring Deal With IPPs – ACEP’s Ben Boakye Discloses

Morocco and Madagascar set up Historic CHAN Final in Nairobi

US Open: Defending Champions Swiatek and Sinner Cruise Into Second Round

Otto Addo Names Strong 24-Man Squad As Black Stars Prepare For Crucial World Cup Qualifiers Against Chad and Mali

Trending

Business

GRA to Tax Cryptocurrency Gains as Authority Prepares Digital Tracking System

August 27, 2025

GRA to Tax Cryptocurrency Gains as Authority Prepares Digital Tracking System The Commissioner-General of the Ghana Revenue...

 Importers and Exporters Association Decries “Mafiarian” Auctions of Perishable Goods at Ghana’s Ports

August 27, 2025

Nigeria Leads as Africa’s Wealthiest Economies Lose Over 8,000 Millionaires in 10 Years

August 27, 2025

Financial Stocks Gain as Accra Bourse Slips on Prime Index Decline

August 27, 2025

Ghana in Talks With Nigeria Over Possible Barter Deal to Swap Gas for Electricity

August 27, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.