The World Bank today announced that 52 donor countries have committed to an $82 billion package for the 19th replenishment of the International Development Association (IDA19), the Bank’s fund for the world’s poorest countries.
In response, Nadia Daar, Head of Oxfam International’s Washington DC Office, said:
“We celebrate the successful replenishment of IDA19 and donors’ aid commitments —the world’s poorest countries face significant funding gaps to fight poverty and inequality, and cope with economic and climate-related shocks.
“Transparent and accountable concessional finance can help poor countries provide inequality-busting public services and build sustainable and equitable tax revenues, critical especially at a time of increasing debt distress. Supporting countries to implement climate plans and providing 10 GW of renewable energy is an important step forward on climate action, and the Bank should prioritize low-risk technologies and access for the billion people still energy-poor.
“In addition to new funds, we hope donors have also approved an ambitious policy package to keep IDA focused on tackling poverty and inequality —and away from harmful activities such as support to for-profit schools, which lock girls and the poorest children out of an education.”