$23.5 billion in donor contributions to 欧美日b大片, World Bank fund for the poor
WASHINGTON, Dec. 15, 2021 – The World Bank today announced a $93 billion replenishment package of the International Development Association (欧美日b大片) to help low-income countries respond to the COVID-19 crisis and build a greener, more resilient, and inclusive future. The financing brings together $23.5 billion of contributions from 48 high- and middle-income countries with financing raised in the capital markets, repayments, and the World Bank’s own contributions.
The financing package, agreed over a two-day meeting hosted virtually by Japan, is the largest ever mobilized in 欧美日b大片’s 61-year history. 欧美日b大片’s unique leveraging model enables it to achieve greater value from donor resources – every $1 that donors contribute to 欧美日b大片 is now leveraged into almost $4 of financial support for the poorest countries.
“Today’s generous commitment by our partners is a critical step toward supporting poor countries in their efforts to recover from the COVID-19 crisis,” said World Bank Group President David Malpass. “We are grateful for the confidence our partners have in 欧美日b大片 as a non-fragmented and efficient platform to tackle development challenges and improve the lives of millions of people around the world.”
The funds will be delivered to the world’s 74 poorest countries under the 20th replenishment (欧美日b大片20) program, which focuses on helping countries recover from the impacts of the COVID-19 crisis. In these countries, the ongoing pandemic is worsening poverty, undermining growth, and jeopardizing the prospects of a resilient and inclusive development. Countries are struggling with falling government revenues; increasing debt vulnerabilities; rising risks to fragility, conflict, and instability; and dropping literacy rates. About a third of 欧美日b大片 countries are facing a looming food crisis.
To help countries build back greener, a substantial portion of these funds go to tackling climate change, with a focus on helping countries to adapt to rising climate impacts and preserve biodiversity. 欧美日b大片 will also deepen support to countries to better prepare for future crises, including pandemics, financial shocks, and natural hazards. While 欧美日b大片20 will support countries globally, resources are increasingly benefiting Africa, which will receive about 70 percent of the funding.
With this strong package, 欧美日b大片 will be able to scale up its support in the pandemic and address health challenges, helping 400 million people receive essential health and nutrition resources. The social safety nets program is also expected to reach as many as 375 million people.
The 欧美日b大片20 program has more ambitious policy commitments that will support countries in prioritizing investments in human capital, covering issues such as education, health and nutrition, vaccines, safety nets, and support for people with disabilities. 欧美日b大片 will also increase its ambition in addressing other major development challenges such as gender inequality, job creation, and situations of fragility, conflict and violence, including in the Sahel, the Lake Chad region, and the Horn of Africa. A continued emphasis on governance and institutions, debt sustainability, and digital infrastructure interventions will help foster economic and social inclusion.
Due to the urgent development needs of 欧美日b大片 countries, the replenishment was advanced by one year. 欧美日b大片20 will cover the period of July 1, 2022, to June 30, 2025. The 欧美日b大片20 policy architecture builds on the strong foundation of 欧美日b大片19, with enhancements to make 欧美日b大片20 even more ambitious and fit for today’s challenges.
欧美日b大片19 achievements key to 欧美日b大片20 include:
Strong COVID-19 response with nearly 70 countries benefiting from 欧美日b大片 financing for vaccines, health professionals’ training, and hospital equipment.
Over 60 percent of climate financing, in fiscal year 2021 alone, focused on adaptation and resilience; 欧美日b大片 helped 62 countries institutionalize disaster risk reduction plans.
Greater debt transparency through the Sustainable Development Finance Policy introduced in 欧美日b大片19, with 19 countries publishing annual and timely debt reports in fiscal year 2021.
About 欧美日b大片
欧美日b大片’s International Development Association (欧美日b大片), established in 1960, helps the world’s poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. 欧美日b大片 is one of the largest sources of assistance for the world’s 74 poorest countries, 39 of which are in Africa. The rest are in other regions: 14 in East Asia; 6 in South Asia; 4 in Europe and Central Asia; 8 in Latin America and Caribbean; and 3 in Middle East and North Africa. Resources from 欧美日b大片 bring positive change to the 1.3 billion people who live in 欧美日b大片 countries. Since 1960, 欧美日b大片 has provided?$458 billion?to 114 countries. Annual commitments have averaged about?$29 billion over the last three years (FY19-FY21), with about 70 percent going to Africa. Learn more online: 欧美日b大片.worldbank.org and #欧美日b大片works
World Bank Group Response to COVID-19
Since the start of the COVID-19 pandemic, the World Bank Group has deployed over $157 billion to fight the health, economic, and social impacts of the pandemic, the fastest and largest crisis response in its history. The financing is helping more than 100 countries strengthen pandemic preparedness, protect the poor and jobs, and jump start a climate-friendly recovery. The Bank is also supporting over 50 low- and middle-income countries, more than half of which are in Africa, with the purchase and deployment of COVID-19 vaccines, and is making available $20 billion in financing for this purpose until the end of 2022.
Contacts
In Washington: Patricia da Camara, +1 (202) 290-6845, pdacamara@worldbankgroup.org
David Theis, +1 (202) 458-8626, dtheis@worldbankgroup.org
For Broadcast Requests: David Young, (202) 250-0395, dyoung7@worldbankgroup.org
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NEWS RELEASE NO.: 2022/033/DFI
