Context International Development Association (IDA)has recently provided $93 billion cash to help the world’s poorest nations which would help scale up aid for pandemic recovery and other programs.
Key takeaways
It was the biggest replenishment ever for the International Development Association (IDA), which provides grants for 74 countries, most of which are in Africa.
The package includes $23.5 billion of contributions from high- and middle-income countries as well as financing raised in the capital markets and the World Bank’s own contributions.
The funds will help countries prepare better for future crises.
What is The International Development Association (IDA)?
It is an international financial institution which offers concessional loans and grants to the world’s poorest developing countries.
The IDA is a member of the World Bank Group
Headquartered: Washington, D.C.
It was established in 1960 to complement the existing International Bank for Reconstruction and Development
