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The Nordic Baltic Countries pledge over 2 Billion USD to IDA20

On December 15, 2021, the IDA20 replenishment negotiations came to a successful conclusion when IDA donors committed to a strong financial package to support the ambitious IDA20 policy package which will step up  support to the poorest countries and assist them through the COVID-19 crisis and towards Green, Resilient and Inclusive Development.

IDA20 is the largest replenishment in IDA’s history. In total, donors pledged 23.5 billion USD in contributions, which is to be leveraged up to 93 billion USD through IDA’s Hybrid Financial Model and additional Balance Sheet Optimization Measures for the benefit of IDA countries over the IDA20 period.

The Nordic Baltic Countries have from the outset been steadfast supporters to IDA, as they view IDA as one of the most effective and efficient development institutions with a leveraging capacity which is hard to match. Yesterday, the eight countries reiterated their support when they pledged a combined conditional commitment of over 2 Billion USD to IDA20, which is a record high for the constituency as a whole.

We look forward to see a strong implementation of the IDA20 policy package and the operationalization of the GRID agenda in IDA countries.

Link to World Bank Press Release