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STORY: WORLD BANK / GLOBAL DEVELOPMENT REPLENISHMENT
TRT: 3:29
SOURCE: WORLD BANK GROUP
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS
DATELINE: 05 DECEMBER 2024, SEOUL, KOREA / FILE
05 DECEMBER 2024, SEOUL, KOREA
1. Various shots, IDA Deputies and attendees at IDA21 Replenishment meeting in Seoul
2. SOUNDBITE (English) Axel van Trotsenburg, Senior Managing Director, World Bank:
“After months of negotiations, partnerships, support from the borrowers, and unwavering commitment from our donors, we're proud to announce that the 21st replenishment of IDA has raised almost $24 billion, or $23.7 billion to be more precise, in donor contributions. We enormously appreciate these donor contributions against a big backdrop of fiscal challenges and depreciations. A huge thank you. We acknowledge the efforts of individual donors to mobilize scarce fiscal resources for IDA and their continued commitment to support the countries who need it most. And thanks to the IDA unique leveraging model, this 23.7 billion will generate a total of 100 billion in financing, the largest replenishment in IDA history. What does this mean? The 100 billion allows us to invest in health, education, infrastructure, and climate resilience. It will help stabilize economies, create jobs, and build the foundation for a better future. And will support the 78 countries that need it most, giving them the tools to navigate an uncertain world and unlock their full potential. These investments are about touching lives and creating better futures.”
FILE – WORLD BANK – NIGERIA
3. Wide shot, Nigeria Street
FILE – WORLD BANK – CENTRAL AFRICA REPUBLIC
4. Various shots, Central African Republic village and market
FILE – WORLD BANK – CENTRAL AFRICA REPUBLIC
5. Various shots, solar Panels
6. Various shots, students and computers
FILE – WORLD BANK – MADAGASCAR
7. Wide shot, construction/school/watering
FILE – WORLD BANK - YEMEN
8. Various shots, agricultural market and farming
FILE – WORLD BANK - BANGLADESH
9. Various shots, farmers in front of Solar panels
FILE – WORLD BANK - NICARAGUA
10. Various shots, open air market
FILE - Papua New Guinea
11. Various shots, rice paddy farming
12. Various shots, port and freighter
The World Bank Group today unveiled a record $100 billion replenishment of the International Development Association (IDA), marking a significant moment for global development. Alongside this record-breaking financing, the World Bank is introducing a simpler, faster, and more agile IDA, reducing policy commitments and metrics by half, giving clients more freedom to prioritize and shape their development.
The announcement concludes a year-long replenishment effort, celebrated in an open letter from World Bank President Ajay Banga to donors, clients, stakeholders, and partners. The letter outlines a vision for leveraging these enhanced resources to drive transformative outcomes.
The International Development Association (IDA) is the World Bank's fund for 78 low-income countries, by far their largest source of multilateral development finance. It provides concessional financing for projects that boost economic growth, build resilience, and improve people's lives across these countries—with more than two-thirds of the financing going to low-income countries in Africa. Resources from IDA bring positive change to the 1.9 billion people who live in IDA countries. Since 1960, IDA has provided $533 billion to 115 countries. The current 78 countries are distributed as follows: 40 in Sub-Saharan Africa; 14 in East Asia and Pacific; 6 in South Asia; 4 in Europe and Central Asia; 8 in Latin America and Caribbean; and 3 in Middle East and North Africa.
